The City of Athens shows a surplus for the eighth consecutive year, Athens mayor Giorgos Broulias said on Monday at a city council meeting that approved the results for fiscal 2018.

The government is reducing spending on the social protection of the weaker social groups, despite the assurances of Euclid Tsakalotos that taxes go to finance the government's social policy, while increasing the contributions paid by employers and professionals. This will result in the much-touted, by the government, budget surplus for 2018.

The euro area economy is set to grow at its fastest pace in a decade this year, with real GDP growth forecast to reach 2.2 pct, according to the European Commission's Autumn 2017 Economic Forecast.