Statistics authority: 2016 primary budget surplus at 3.7 rather than 3.9% of GDP

Monday, 23 October 2017 16:22
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The primary budget surplus posted by the Greek state in 2016 was less than previously forecast, according to revised data released on Monday by the country’s independent statistics authority, with the figure reaching 3.7 percent of GDP, rather than 3.9 percent.

The authority, EL.STAT, uses Economics and Statistics Administration (ESA) guidelines in calculating the fiscal figure.

Meanwhile, the general government debt, which last April was calculated at 179 percent of GDP, was also revised, now standing at 180.8 of GPD.

EL.STAT did not announce figures for the 2016 primary budget surplus based on the memorandum definition, which is employed by the finance ministry. The primary budget surplus for 2016 was calculated at 4.2 percent last April when using the memorandum definition.

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