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Greece blows EU-IMF bailout targets away with strong budget performance

Debt-strapped Greece, its creditors have been at odds for months over country's fiscal performance

Reuters  |  Athens 

Greece far exceeded its international lenders' budget demands last year, official data showed on Friday, posting its first overall budget surplus in 21 years even when debt repayments are included. The primary surplus — the leftover before debt repayments that is the focus of International Monetary Fund-European Union creditors -- was more than eight times what they had targetted. Data released by Greek statistics service ELSTAT -- to be confirmed on Monday by the EU -- showed the primary budget surplus at 3.9 percent of gross domestic product last year versus a ...

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First Published: Fri, April 21 2017. 22:14 IST