Tags: EU | Greece | Economy

Greek 2018 Primary Budget Surplus Exceeds Forecasts, at 4.4%

Tuesday, 23 April 2019 08:39 AM EDT

ATHENS, Greece (AP) — Greece's budget performance in 2018 was better than expected following some revenue-boosting measures by the government.

According to the country's statistical agency, Greece recorded a primary budget surplus, which excludes the cost of servicing the country's vast public debt, of 4.4% of its annual output. That's ahead of government projections of 4.1%.

The agency also said Tuesday that the country's debt mountain rose to 181% of GDP in 2018, from 176% in 2017.

Greece's debt dynamics have been shaken by a debt crisis that led to a deep recession and forced Athens in 2010 to seek a massive international bailout. In exchange for the loans, successive governments implemented strict austerity measures.

Though Greece ended its bailout era last summer, it still has to post surpluses for years to come.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Greece's budget performance in 2018 was better than expected following some revenue-boosting measures by the government.According to the country's statistical agency, Greece recorded a primary budget surplus, which excludes the cost of servicing the country's vast public...
EU,Greece,Economy
132
2019-39-23
Tuesday, 23 April 2019 08:39 AM
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