ECONOMY

Prolonged high primary surpluses hinder economic growth, BoG chief says

Prolonged high primary surpluses hinder economic growth, BoG chief says

Greece’s economic growth could be hindered by maintaining high primary surpluses for an extended period, together with high taxation, Central Bank Governor Yannis Stournaras said on Monday.

Stournaras was speaking at the bank’s annual shareholders meeting, where it released its annual report on the economy.

Greece exited its third bailout last August and has committed to attaining demanding primary budget surpluses – excluding debt servicing outlays – of 3.5 percent of GDP until 2022.

[Reuters]

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.