Tuesday October 21, 2014 Search
Weather | Athens
24o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece expects to beat 2014 budget target, may issue more bonds

Greece said on Wednesday it expected to beat a 2014 budget target set by its international lenders and may tap bond markets again with an issue of between 3 and 6 billion euros to plug any potential funding gap over the next 12 months.

Athens sees a primary budget surplus of 2.3 percent of GDP this year, exceeding a target of 1.5 percent of GDP set by the European Union and International Monetary Fund, Deputy Finance Minister Christos Staikouras said.

The figures Staikouras announced are part of an updated mid-term budget plan, which the government has submitted for approval to parliament.

"The mid-term plan for 2015-18 marks the country's path towards economic recovery and growth and towards maintaining substantial and sustainable primary budget surpluses,» Staikouras said.

Bailed-out Athens has been topping its budget targets and returned to bond markets earlier this month, in a sign of the progress made in fixing its finances after four years of tough austerity measures that wiped out almost a quarter of its GDP and sent unemployment to record highs of nearly 28 percent.

The mid-term plan sees Greek real GDP growing by an average 3.3 percent in 2015-2018, leading to an unemployment rate of 15.9 percent by 2018.

Greece ended a four-year exile from international bond markets earlier this month with the sale of a five-year bond, and Staikouras said Athens could sell between 3 and 6 billion euros of bonds over the next 12 months.

Greece says it will need no third bailout after the two it already received, worth a total 237 billion euros, to cover its 2010-2014 funding needs. Athens's euro zone lenders are more circumspect and say they are standing by to provide more help if needed.

[Reuters]

ekathimerini.com , Wednesday April 30, 2014 (12:37)  
Think-tank says political uncertainty slowing investment in Greece
Tax debts to Greek state exceed 70 billion euros
Greek 2013 budget gap revised down to 1.8 pct/GDP
Greece said to seek tailor-made plan for bailout exit
Greek farmers warn they“re warming up for protests
Greek farmers are warming up for extended protest action, representatives of their unions warned on Tuesday after meeting in Larissa, central Greece, over the weekend. Farmers, who are compl...
Accomplice of Greece“s Number 1 fugitive arrested while trying to leave country
Self-styled anarchist Polykarpos Georgiadis, linked to Greece's Number 1 fugitive, was arrested at Athens International Airport on Tuesday while trying to board a flight to Brussels, in viol...
Inside News
BASKETBALL
PAOK fans stop coach Markopoulos“s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
INTERVIEW
The past, present and future of the Greek debt crisis
For a decade, until mid-2012, Josef Ackermann was the CEO at Deutsche Bank. It was a position that earned him the nickname “shadow chancellor” of Germany and allowed him to play a decisive r...
COMMENTARY
Self-opposing coalition
Even though a number of polls see the total percentage of the two ruling parties trailing that of SYRIZA, New Democracy and PASOK are still in government and the leftists in opposition. This...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek farmers warn they“re warming up for protests
2. Accomplice of Greece“s Number 1 fugitive arrested while trying to leave country
3. Think-tank says political uncertainty slowing investment in Greece
4. Trial over 2012 torture of Egyptian bakery worker in Salamina begins
5. Tax debts to Greek state exceed 70 billion euros
6. Greek 2013 budget gap revised down to 1.8 pct/GDP
more news
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Gang importing heroin into Greece busted
3. Self-opposing coalition
4. Gutsy rectors
5. Applications for heating oil subsidy set to start
6. SDOE to probe Proton Bank loan to Thessaloniki businessman
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Greece to contribute 1 mln towards Gaza reconstruction
3. Greece nearing bailout exit, says gov't spokesperson after IMF talks
4. Istanbul skyscraper casts shadow over Greece's banking ambitions
5. Coalition shooting itself in the foot
6. GPO poll gives SYRIZA clear lead over New Democracy
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.