Representatives of Greece’s lenders are currently in Athens for the 4th post bailout-program enhanced surveillance review.
Citing sources from the Greek economic team, state-run news agency amna reports that the two sides discussed among others the prime minister’s measures presented at the Thessaloniki International Fair (TIF) earlier this month. The measures include tax reliefs worth 1 billion euros and will all be included in the budget 2020.
The meetings on Tuesday focused on quantification of fiscal performance for issues such as the 120-installments repayment plan for loans, and VAT revenues, the TIF proposals and backup measures to increase revenues in case of a fiscal gap.
The sources ruled out tax increases or a slash of state expenditures, but said the backup measures would be structural in nature, e.g. promoting digital transactions.
Both sides, the source said, agreed that the target of a 3.5% primary surplus for 2019 is guaranteed.
Among issues discussed with the institutions were guarantees banks have in their portfolios, payoff of state debts to the private sector, the clawback in the health sector, the labor regulations included in the recent development plan, and other initiatives to be carried out by the end of the year.
On the meetings on Wednesday, the agenda will include topics of the energy sectors, the public sector, privatizations, digital policy.
At the same time, an IMF mission in Athens will complete its work on Friday for a report based on Article 4 of the organization’s charter.
The lenders’ report is expected to be presented at the Eurogroup meeting on December 4.
PS Just when many Greeks think the bailout programs are over, the implementation of the “4. bailout reforms program” is really sneaky and tricky, isn’t it?
