The impossible became possible. Thanks to efforts of the Samaras’ coalition governments, of course. For the first time, Greek finance ministry a primary budget surplus of 1.5 billion euro.
“Figures ‘make the goal of achieving a primary general government surplus by the end of the year increasingly feasible,’ says Alternative Finance Minister Christos Staikouras
The government has said that the country had a primary budget surplus of €1.5bn, amounting to 0.8% of GDP, in the first eight months of the year.
Including once-off revenue of €1.5bn from the transfer of revenue on Greek bonds held by eurozone central banks, the primary surplus increases to almost €3bn (1.5% of GDP), the figure used by the government.
The figures “make the goal of achieving a primary general government surplus by the end of the year increasingly feasible,” said Alternative Finance Minister Christos Staikouras, presenting the data.
In August, the primary budget surplus amounted to €367m.
Staikouras said that while primary spending fell by 6.4%, a large hole in revenues – some €713m – remains.” (enetenglish)
Too stupid the joyful news came a day before the European Central Bank said that most likely Greece will need not one but two additional bailouts.
I’m afraid, I mixed up heart with primary surplus diagrams here
PS you are really much too mean if you think that cutting short even our toilet going in order to save water it won’t help the country in returning back to markets.
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