The Bank of Greece (BoG) on Monday warned that exceeding the already high annual primary budget surplus target (as a percentage of GDP) in tandem with falling under commitments for public investments will have repercussions for the private sector and long-term growth.
In unveiling its annual report for the ongoing year’s budget, the BoG reminded that in 2017 the specific fiscal target was exceeded for a third straight year, with the same development expected to result from 2018’s figures.
The central bank again cited the fact that public investments are being curtailed from the initial goal, while also warning that the clearing of arrears to the private sector continues to be plagued by delays
