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Greece’s State Budget Office favor the lowering of primary surpluses

The Head of the Greek Parliament State Budget Office, Frangiskos Koutentakis, said that “the 3,5 percent of GDP primary surplus target remains reachable but with increased risk.”

The State Budget Bureau said it favors the need to lower primary surplus targets, more so due to the fact that the relaxation of monetary policy is not as strongly distributed to Greece as the rest of the euro area member states, because the country continues to lack a “higher investment grade.”

In this context, it is pointed out that the emerging slowdown in the European economy is seen as yet another argument for the need to relax primary surplus targets, state news agency amna reported on Wednesday.

Prime Minister Kyriakos Mitsotakis was confident already before the July elections that he will manage to persuade the country’s lenders to lower the agreed primary surpluses.

Worth noting that Koutentakis is a member of SYRIZA and was appointed to this position by the government of Alexis Tsipras.

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