PR: State Budget 2018
The State Budget 2018 was submitted today at the Greek Parliament. For 2017, the economic growth rate is estimated at 1.6% of GDP and the primary surplus at 2.44% of GDP, having already integrated expenditure of 1.4 billion € or 0.78% of GDP for the social dividend, the refund to pensioners and the payment of the Electricity Company. An important factor for the excess of 2017 was the better-than-expected outcome of the insurance funds, both on the revenue side and on the expenditure side, as well as the reasonable management of the regular budget expenditure.
For 2018, an economic growth at 2.5% is anticipated as well as a primary surplus of 3.82% of GDP. Although marginally higher than the corresponding 2017 estimated, the fiscal effort already made, as well as the lifting of economic gloom and the significant improvement on the economic climate, are sufficient conditions to secure its achievement.
The state budget 2018 is the last to be submitted under the macroeconomic adjustment program and marks the country's entry into a new period of economic stability. As foreseen in the Medium-term Fiscal Strategy Framework 2018-21, in the years to come, the necessary fiscal space has been secured so as assistance of social protection to be expanded and significant tax exemptions for families and enterprises to be implemented.