ECONOMY

Greece announces primary surplus of 2.5 bln in Jan-Sept period, beats target

Greece has achieved a primary surplus of 2.5 billion euros, or 1.4 percent of gross domestic product, between January and September this year, the government said Tuesday.

The figure, which was announced Tuesday by Alternate Finance Minister Christos Staikouras, has hovered the target of 1.5 billion euros, or 0.8 percent of GDP, laid out in the government’s midterm fiscal program.

Earlier this month, Greece reported a primary surplus of 2.5 billion euros in the January-August period, sharply up from a primary surplus of 1.2 billion euros in the same period last year.

Staikouras said the data appear to confirm predictions that the debt-hit country will manage to beat the IMF target for a primary budget surplus of 1.5 percent of GDP for 2014.