by Kerin Hope
October 7, 2019
Greece revealed an ambitious budget for next year that assumes growth will accelerate to 2.8 per cent from a projected 2.0 per cent this year, driven by higher investment inflows and cuts in corporate and personal income tax.
Theodoros Skylakakis, deputy finance minister, said on Monday the centre-right government was also committed to achieving a 3.5 per cent primary budget surplus next year — before making debt repayments — as agreed with Greece’s international creditors.
Greece will hit the 3.5 per cent surplus target this year, but faces a projected fiscal gap of about €800m in 2020, according to EU monitoring officials visiting Athens last week.
Mr Skylakakis gave reassurances the government will find enough additional measures to close the gap before the budget is presented to the European Commission on Friday.