Greece will submit a 2020 budget later this year that will fully respect the fis...
ATHENS - Greece will submit a 2020 budget later this year that will fully respect the fiscal targets agreed with its lenders, newly elected Prime Minister Kyriakos Mitsotakis said on Saturday.
Greece emerged from economic adjustment programs overseen by its lenders last August but still needs to meet fiscal targets, including a primary budget surplus — which excludes interest payments on its debt — of 3.5 percent of annual economic output up to 2022, which many consider unrealistic. He said that planned tax cuts and bold reforms of the economy and public administration would lead to higher growth and help Greece convince its lenders to lower fiscal targets after 2020.
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