BUSINESS

Athens will request in 2020 lower primary surplus targets

TAGS: Finance

Leaving behind a decade of financial crisis Greece will witness in 2020 the "start of a decade of constant progress," Greek Prime Minister Kyriakos Mitsotakis said in an interview with local newspaper "To Vima" published on Sunday.

As part of efforts to boost and speed up the revival progress of the country, the government intends to officially request in the first half of 2020 the lowering of primary surplus targets from international lenders, so that this can be included in the 2021 budget, he said.

Although Greece exited the bailout era in 2018, the country is still committed to meeting targets set in cooperation with its creditors. The goal for a 3.5 percent primary surplus target until 2022 was deemed necessary for the sustainability of the high Greek debt load.

Mitsotakis argued for its reduction while he was still in opposition. Athens' argument is that by achieving larger growth rates the issue of ensuring debt sustainability through high primary surplus targets should be reviewed.

[Xinhua]

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