Recently, after adjusting its national budget surplus forecast, the Greek government stated that, benefiting from higher-than-expected tax revenues, the country will have a budget surplus of 812 million euros in 2013, more than double the previously released forecast of 344 million euros. Christos Staikouras, Alternate Minister of Finance of Greece, stated, “The 2013 budget surplus is the result of the great sacrifices made by Greek society. Achieving revenue targets in the 6th year of economic recession will lead to a prudent but optimistic outlook for 2014.” He also indicated that the possibility of obtaining debt relief from the European Union and the International Monetary Fund will significantly increase.
In its revised 2014 budget, the Greek government confirmed that since the 2008 financial crisis, the Greek economy has shrunk by nearly a quarter. However, in the past few months, the Greek economy has been supported by more optimistic news, including a booming tourism season and progress made in government fiscal austerity policies. The Greek government predicts that Greece will end its 6-year economic recession, with a 0.6% growth in Gross Domestic Product (GDP) in 2014. The 2014 budget surplus is expected to reach 2.96 billion euros, equivalent to 1.6% of the country's GDP, meeting the international creditors' target of a primary budget surplus of 2.75 billion euros, or 1.5% of GDP.Investment involves risks, the above information is for reference only
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