Greece expects to make primary budget surplus in 2013, meeting key bailout target

by  Associated Press Greece to reach key budget target for 2013 Associated Press - 14 January 2014 07:43-05:00

ATHENS, Greece (AP) — Greece's finance ministry says it is on target to achieve a primary budget surplus in 2013, a key target set in the country's bailout agreements.

Deputy Finance Minister Christos Staikouras said Tuesday that the core government's primary surplus — that is, not counting the cost of paying interest on existing debt — was 691 million euros ($956 million).

He said the primary surplus for overall government spending is expected to be 812 million euros ($1.1 billion). The official figure will be released in about one month.

Greece has promised to balance its budget before interest payments to qualify for a major debt relief deal expected later this year.

News Topics: Business, National budgets, Government budgets, Financial crisis, Government finance, Government business and finance, Government and politics, National governments, Economy, Financial markets

People, Places and Companies: Greece, Western Europe, Europe

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

READ THE ORIGINAL POST AT www.neurope.eu