BUSINESS

Centeno welcomes Greek commitment to fiscal targets, warns over reforms

TAGS: Economy, Euro

Eurogroup head Mario Centeno said Greece is on the right path in achieving the country’s fiscal commitments but warned over lagging reforms, following a meeting of European Union finance ministers on Tuesday.

He said the Commission presented the first enhanced surveillance report which showed “some good results,” including the projected achievement of a primary surplus target of 3.5 percent of GDP next year.

“It’s the third year in a row this happens. This shows that the Greek authorities are committed to a sound fiscal path,” he said during a press conference.

But Greek authorities need to make further progress in privatisations, arrears clearance, insolvency legislation and product market reforms, he added.

“We all agree that it is paramount to continue the good work initiated in recent years by implementing the reform agenda,” he said.

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