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GreeceGreece to return to primary surpluses in 2023

Greece to return to primary surpluses in 2023

Hellenic News of America
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Greece will return to primary surpluses from 2023 and remain on a course of reducing its public debt, the IMF said in its Fiscal Monitor report released on Wednesday.

The Fund sees the general government primary surplus at 0.9% of GDP in 2023, rising to 2% in 2027, from primary deficits of 1.8% this year and 5.5% in 2021.

According to the report, the general government balance, including capital payments on debt, will show a deficit of 1.9% of GDP in 2023, from a shortfall of 4.4% this year, falling to 0.7% in 2027.

Public revenue is expected to fall from 47.6% of GDP this year to 45.9% in 2023 and to 43.6% in 2027, while public spending are projected to fall from 52% this year to 47.8% in 2023 and to 44.3% in 2027.

The general government debt is expected to fall from 199.4% of GDP in 2021 to 177.6% this year, to 169.8% in 2023 and to 149.9% in 2027.

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The IMF called national governments to maintain an austere fiscal policy and to adopt focused support measures against high energy prices.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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