NEW REPORT - Greek public debt to decline in 2014

The Greek public debt is expected to fall in 2014 for the first time after decades of rising trends, not only in absolute numbers but as a percentage of GDP, according to the Pubic Debt Management Organization.

In a report to the Greek Parliament on Tuesday Parliament, and in response to a question by Maria Giatagana, an independent deputy, the Organization stressed that the country's public debt will fall both in absolute prices and as a percentage of GDP this year, for the first time after several decades of rising trends, after the country achieved a primary budget surplus, reducing interest spending following a debt restructuring in March 2012 (PSI) and promoting a privatization program. The Organization said that net borrowing for 2014 is going to be roughly 3.6 billion Euros in 2014, offering evidence that the country needed to borrow less to finance its budget.