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]