ECONOMY

Greece’s 2015 budget still rests on resolving difference over fiscal gap with troika

The Finance Ministry has entered the last phase of drafting the final version of the 2015 national budget but the fiscal gap for next year remains a sticking point with the troika.

Greece’s lenders estimate the shortfall for 2015 at around 3.6 billion euros but Athens believes it is much smaller. The ministry has to submit the budget by Friday but if will need to settle its differences with the troika over the fiscal gap before then.

According to sources, the budget will set a budget primary surplus target of 3 percent of GDP, which will be achieved with the help of changes at public organizations that will save between 500 million and 1 billion euros.