At the presentation of the Parliament’s budget office report regarding the course of the economy in the second quarter of 2018, the head of the budget office, Frangiskos Koutentakis, stressed that the conditions are favorable, but the next steps are crucial, as the credibility of the economic policy that will be applied after the expiry of the third memorandum, will determine the course of the economy.

In relation to the measures recently adopted regarding the debt, the report identifies them as positive. However, it points out that the issue of long-term viability expressed by the IMF may delay the upgrading by rating agencies.

Regarding the surplus, the head of the budget office presented estimates showing an increase of the primary surplus by € 600 million compared to 2017. In particular, in the first half of 2017 the primary surplus had reached 1.24 billion euros, while this year at the end of the first half, it reached 1.84 billion euros.

 

Source: ERT