IMF revises forecasts for Greek state: 3.3% primary budget surplus in 2019; 2.6% in 2020

Wednesday, 16 October 2019 22:36
UPD:22:37
REUTERS/Yuri Gripas
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The IMF foresees the Greek state posting a 3.3-percent primary budget surplus this year, dropping to 2.6 percent in 2020, in revising its previous estimates downward.

A previous IMF report last April cited a 3.5-percent performance, as a percentage of GDP, until 2022.

Specifically, the Fund announced its new forecasts for the Greek state's mandatory primary budget surpluses as such:

  • 3,3% of GDP for 2019
  • 2,6% of GDP for 2020
  • 2,5% of GDP for 2021
  • 2,5% of GDP for 2022
  • 2,3% of GDP for 2023
  • 2% of GDP for 2024

In terms of the Greek government's external debt, the IMF foresees that in 2020 it will fall to 171.4% percent of GDP, further dropping by 22.5 percent of GDP within five years.

Specifically, the IMF predictions for Greece's debt-to-GDP ratio are:

  • 176,6% of GDP for 2019
  • 171,4% of GDP for 2020
  • 167,1% of GDP for 2021
  • 161,7% of GDP for 2022
  • 157,2% of GDP for 2023
  • 154,1% of GDP for 2024

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