Greek Statistics Authority Lowers Primary Surplus



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The Hellenic Statistical Authority (ELSTAT) announced a lower 2015 primary surplus and higher debt than the one initial figures had indicated in data released for the second Excessive Deficit Procedure (EDP) notification of 2016. These figures have been passed on to Eurostat in accordance with Greece’s European Commission obligations. Data announced on Thursday were produced on the basis of the new Regulation ESA 2010 for the System of National Accounts.

The deficit for 2015 according to ESA 2010 is estimated at 13.2 billion euros or 7.5 percent of Greece’s Gross Domestic Product while the gross consolidated General Government debt at the year-end of 2015 is estimated at a nominal value of 311.7 billion euros (177.4 percent of the Gross Domestic Product).

The deficit was at 6.91 billion euros, up from 6.05 billion euros in April.