ATHENS: Greece said yesterday its budget was in surplus, not counting interest payments, and that it was on course to hit fiscal targets and fulfil conditions to seek additional debt relief from its international lenders.
The central government had a primary budget surplus of ¤2.92bn ($3.87bn) between January and August, the finance ministry said.
It compares with an interim target for a deficit of ¤2.5bn in the period, it said.
Reaching a primary surplus this year is the main goal of the debt-laden country’s government. Hitting that target would trigger a clause in its international bailout allowing Athens to seek additional debt relief from its lenders.
The reading announced on Tuesday, however, provides just an approximate indication of how Greece’s finances are shaping up.
It is not directly comparable with its bailout targets as it excludes the budgets of local government and social security funds.