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Athens Macedonian News Agency: News in English, 14-04-27

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Finance ministry refutes reports of new austerity measures

  • [01] Finance ministry refutes reports of new austerity measures

    ANA-MPA - There are no 7.7 billion euros' worth of new measures, new taxes or further cuts in wages and pensions, the Finance ministry said in an announcement late on Saturday, rebutting press reports about further austerity measures in Greece.

    The ministry referred to the European Commission's evaluation report on the Greek adjustment programme on Friday, which gave Greece a positive assessment thus opening the way for the disbursement of an 8.3 billion euros' support loan to Greece (6.3 billion of which will be disbursed next week), and said the reports were spread by "the same circles that claimed the country would not meet its fiscal targets, the same people who are always spreading rumours of danger and cultivate a climate of fear and catastrophe."

    They "either do not know how to read charts or are 'blinded' by their government opposition attitude," the ministry added in its announcement, pointing out that "Greece has entered a long period of high and viable primary surpluses." It also quoted the report on a primary surplus of 0.8 percent over GDP in 2013, which it said "overshoot the (fiscal adjustment) programme's targets and presented the opportunity to distribute a social aid bonus."

    Among other things, the Finance ministry said the charges of fiscal gaps "don't add up" and that any "forecasts by the troika (of lenders) for even higher primary surpluses (which would have thus led to a fiscal gap) are being dealt with through structural interventions that are in no way related to wages and pensions."

    In conclusion, it asserted that any fiscal gap existing now relative to the next few years will be "cancelled out by the satisfactory execution of this year's budget, the implementation of structural interventions and the gradual improvement of liquidity following the reintroduction of the state and Greek banks to (international) markets, in combination with the wider growth initiatives that will be announced in the immediate future."

    "As the forecasts of the Greek government have been proven true the last two years," the Finance ministry said, "the same will happen now."

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