Staikouras said that Greece had a primary deficit of 6 billion euros (2.9 percent of GDP) in 2011, while it is expected that 2014 will close with a primary surplus of 2.9 bln euros (1.6 pct of GDP), therefore during the previous government the annual primary balance improved by about 9 bln euros (circa 4.5 pct of GDP), while the country achieved a "significant and nationally needed primary surplus" for two years in a row.
In 2011, he said, the budget deficit was 21 bln euros (10.1 pct of GDP), while 2014 will close at around 4.5 bln (ca. 7.5 pct of GDP), therefore under the leadership of former prime minister Antonis Samaras the annual deficit was reduced by 16.5 bln (ca. 7.5 of GDP) and ended below 3 pct of GDP, the prerequisite set by the EU's Stability and Growth Pact.
Outstanding debts of the state to the private sector were 8.8 bln at end-2012 and dropped to 3 bln by end-2014, reduced by about 70 pct during the last two years, he pointed out.
"I am of the hope that the present government will also take one more step, in 2015, towards the further reduction of the budget deficit. It remains to be seen," the ND deputy said.ANA-MPA