Greek government says budget proposals 'exceed' creditor demands
[ATHENS] Greek Prime Minister Alexis Tsipras on Monday said Greece had offered proposals to balance the budget in 2015 and 2016 based on the primary surplus targets desired by creditors that "exceeded" the lenders' objectives.
In a letter to European Commission chief Jean-Claude Juncker, seen by AFP, Tsipras states that to achieve the desired primary surplus of one per cent of annual gross domestic product (GDP) in 2015 and two per cent the following year, Greece has set itself the target of taking fiscal measures worth 1.51 per cent and 2.87 per cent of GDP in 2015 and 2016 - slightly more than creditors have asked for.
So "the prescribed objectives have been exceeded", the letter said.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China's central bank signals caution over credit boost as demand weakens
Former China central bank’s deputy governor accused of taking bribes
Malaysia’s RHB Bank doubles green loans target to RM50 billion
Human cases of bird flu 'an enormous concern', says WHO
Copenhagen mayor to take lessons from Notre-Dame after Old Stock Exchange blaze
Reuters’ Mohammed Salem wins 2024 World Press Photo of the Year award