Greece has achieved more than 85 pct of fiscal adjustment needed, says Stournaras
Greece has achieved more than three quarters of the fiscal adjustment it needs to make its debt sustainable, Finance Minister Yannis Stournaras told businessmen on Monday.
“We estimate that more than 85 percent of the improvement in the general government primary balance, in order to reduce our debt to sustainable levels by 2020, has already been achieved,” he told the 3rd 'Hellenic - Chinese Business Partnering Conference.
“This means that the hardest part is behind us but we still have some ground to cover. We have almost reached the top of the mountain, though.”
Last week, the European Commission confirmed that Greece had achieved a 1.5 billion primary surplus in 2013, a year ahead of schedule.