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22ndannualcapital

Budget records 1,8 billion euro primary surplus

In a report on budget execution, the Finance ministry said that the primary surplus totalled 1.8 billion euros in the January-June period this year, from a primary deficit of 1.9 billion euros in the corresponding period in 2013, while excluding the overdue debt repayment program, the primary surplus totalled 2.2 billion euros.

Finance Alternate Minister Christos Staikouras, commenting on the budget results said the country, for the second successive year, recorded high and sustainable primary surpluses, a confirmation that its public finances were stabilizing, safeguarding the basic and necessary condition for economic recovery through the painful sacrifices made by the Greek households and enterprises.

"We now face a new big challenge. To transform, the soonest possible, stabilization into a dynamic and sustainable growth, with social cohesion. This needs hard work, convergence and a national plan to enable our country to emerge from the steep tunnel it has found itself in during the past few years.”