Greece reported a primary surplus of 2.5 billion euros in the January-August period, sharply up from a primary surplus of 1.2 billion euros in the corresponding period last year, the Finance Ministry said in an announcement. The announcement noted that the eight-month figure accounted for 1.3% of GDP, more than double the 0.6% of GDP figure recorded in the corresponding period last year. “The figures confirm that with the sacrifices made by households and enterprises, we are very near to achieve and surpass a goal of 1.5% of GDP of a primary surplus this year and this will be recorded in the 2015 draft budget,” an announcement by Greek Alternate Finance Minister Christos Staikouras said. The announcement stressed that a gradual achievement of fiscal targets, for the third successive year, allowed the government to gain more freedom and to proceed, gradually, to an overall reduction of taxation and adoption of a social policy.
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