IMF: Reduction of Greek public debt to 158.8% of GDP in 2024—Primary surplus of 2.1%

The primary surplus is expected to remain at 2.1 per cent of GDP until 2029 which is the time frame of the Fund's forecasts.

If interest rates on public debt are taken into account, a government budget deficit of 0.9% of GDP is forecast this year which will gradually rise to 1.4% in 2029.

In the eurozone as a whole, a primary deficit of 1.2 per cent of GDP is expected this year, which will gradually decrease to 0.2 per cent in 2029, while the overall fiscal deficit is projected to fall from 3.5 per cent to 2.3 per cent, respectively.

The primary surpluses will allow for a steady decrease in Greece's public debt in the coming years, with its level falling to 138.8% of GDP in 2029. In the same year, the eurozone's public debt is projected to be slightly reduced to 87.7% of GDP from 88.6% in 2023.

General government revenues are projected to fall gradually from 46.8% of GDP this year to 43.7% in 2029, while general government spending will decrease from 47.7% to 45.1%, respectively.