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Greece’s budget records a primary surplus 4.4% of GDP in 2018

The Greek economy recorded a primary surplus of 4.4 pct of GDP, or 8.149 billion euros, in 2018, Hellenic Statistical Authority said in a report sent to Eurostat in the framework of the excessive deficit procedure.

The statistics service confirmed that the government exceeded its goals for a primary budget surplus according to the ESA, different from the method used by the institutions in the framework of enhanced post-programme surveillance.

Hellenic Statistical Authority, in the report, said that the primary surplus totaled 8.149 billion euros, or 4.4 pct of GDP in 2018, from 6.946 billion euros or 3.9 pct of GDP in 2017, 6.430 billion euros or 3.6 pct of GDP in 2016 and a deficit of 3.758 billion euros of 2.1 pct of GDP in 2015.

The country’s public debt was 334.573 billion euros in 2018 (181.1 pct of GDP), from 317.485 billion euros (176.2 pct of GDP) in 2017, 315.010 billion (178.5 pct of GDP) in 2016 and 311.729 billion (175.9 pct of GDP) in 2015.

The statistics service said the higher public debt figure in 2018 was temporary because of the disbursement of loans. The Greek Gross Domestic Product was 184.714 billion euros in 2018, from 180.218 billion in 2017, 176.488 billion in 2016 and 177.258 billion in 2015.

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