Greek Budget Records 1.2B Euro Primary Surplus in Jan-May‏



Greek Current Account SurplusGreek budget recorded a primary surplus of 1.2 billion euros in the first five months of the year, Alternate Minister of Finance Christos Staikouras said on Monday.

In a report on budget execution, the Finance Ministry announced that the primary surplus totaled 1.2 billion euros in the January-May period this year, from a primary deficit of 1.6 billion euros in the corresponding period in 2013, while excluding the overdue debt repayment program, the primary surplus totaled 1.6 billion euros.

Staikouras, commenting on the budget results, said that Greece, for the second consecutive year, recorded a high and sustainable primary surplus, a confirmation that its public finances were stabilizing, safeguarding the basic and necessary condition for economic recovery through the painful sacrifices made by Greek households and enterprises.

“Confidence on Greek economic outlook was gradually restored, while signs of a forthcoming exit from the recession this year were steadily increasing. We now face a great new challenge. To transform, the soonest possible, stabilization into a dynamic and sustainable growth, with social cohesion. For this reason it is of national interest to safeguard all the achievements so far. And this requires a national plan and hard work, away from populism, party politics and personal agendas. We must show unreserved participation in sacrifices and social solidarity to push the economy forward and the society towards a cycle of prosperity for all citizens,” Staikouras said.
(source: ana-mpa)


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