ATHENS (Reuters) – Greece’s central government primary surplus reached 3.5% of its Gross Domestic Product (GDP) last year, well above the government’s target, the outgoing finance minister said on Saturday.
The latest government estimate was for a primary surplus, which excludes debt-servicing costs, of 2.5% of GDP.
Greece, which almost went bankrupt in the last decade, needs to achieve primary surpluses in coming years to keep its huge debt viable.
“In a month from now, when the final figures come out, you will see a primary surplus of about 3.5% of GDP, but also a fiscal surplus of 0.2%,” said Kostis Haztzidakis, welcoming the new finance minister, Kyriakos Pierrakakis.
On Friday, Prime Minister Kyriakos Mitsotakis named new finance and transport ministers in a reshuffle designed to shore up support for his government after mass protests over a 2023 train crash.
(Reporting by Lefteris Papadimas; Editing by Kevin Liffey)
