Mitsotakis: Primary budget surplus goal should hover at 2% after 2018

Tuesday, 28 June 2016 11:41
UPD:11:42
SOOC/Nikos Libertas

Speaking during a live television appearance, the former minister (file pic.) stressed what he called the importance of “real reforms” in attracting investments and boosting employment.

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Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Monday evening said Greece should aim for primary budget surplus targets of around 2 percent on an annual basis after 2018.

That year marks the conclusion of the third memorandum, or bailout terms, between institutional creditors and Greece.

The last year in fact, 2018, includes a 3.5-percent primary budget surplus goal, as a percentage of GDP, that the leftist Tsipras government has signed-off on and must achieve.

European creditors have mostly pressed for higher primary budget targets in order to pay off loans and debts, while the IMF has vilified the figures as unrealistic.

Speaking during a live television appearance, the former minister stressed what he called the importance of “real reforms” in attracting investments and boosting employment.

Asked about the prospects of changing the current election law – a recent and abrupt government initiative after talks with creditors over the first review of the bailout concluded – he repeated that it was a “perfect recipe” for an unstable government. He also charged that Prime Minister Alexis Tsipras was trying to wreak the foundations of the political system “after his retirement."

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