Greece attains primary surplus of 3.9 pct of GDP in 2016- stats service

Fri Apr 21, 2017 | 5:24am EDT

Reuters

Greece improved its public finances last year, achieving a general government surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country's statistics agency ELSTAT said on Friday.



Under ESA 2010 guidelines, the general government's primary balance, excluding debt servicing, reached a surplus of 3.9 percent of economic output last year versus a downwardly revised 2.3 percent deficit in 2015.

ELSTAT did not calculate a figure for the primary budget balance under the country's bailout programme, where there is a different statistical treatment on some expenditure and revenue items.

Under the bailout programme, Greece had a primary surplus target of 0.5 percent of GDP. Prime Minister Alexis Tsipras has said the country strongly outperformed, delivering a surplus of at least 3.5 percent of GDP.

ELSTAT also said Greece's general government debt rose to 179 percent of GDP last year from 177.4 percent in 2015. (Reporting by Lefteris Papadimas and George Georgiopoulos)