Greece achieved a primary surplus of 0.7% of GDP in 2015, a European Commission spokeswoman said on Thursday.
After the EU statistics office released data on its member states’ budgets, Greece had a primary budget surplus before debt service in 2015, therefore beating the target set in its bailout program, according to the European Commission.
“This is in line with the Commission baseline and indeed substantially better than the program’s fiscal target of a primary deficit of 0.25 percent of GDP for 2015,” the European commission spokeswoman added.
The primary balance is a key indicator to assess Greece’s progress in its third memorandum. The measurement has become an important element in the eurozone discussion on whether Greece should be granted further debt relief.
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