Greece to ask debtors to lower primary surplus targets to speed economic revival

Greek Prime minister Kyriakos Mitsotakis has identified the new year as the “start of a decade of constant progress”.

Speaking in an interview with Vima, Mr Mitsotakis said within the first half of the year the government intended to ask international lenders to lower primary surplus targets so that the changed could be part of 2021 budget planning. The prime minster said that this would speed the country’s economic revival.

Greece put behind the bail-out regimen in 2018 but Mr Mistotakis said the country was still committed to meeting targets it had agreed with its creditors with the 3.5 percent primary surplus target set until 2022 being considered necessary for the sustainability of the high debt load that the country faced.

Mr Mitsotakis has argued that if the country achieves higher growth rates then the issue of ensuring debt sustainablity through high primary surplus targets should be reviewed.

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