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Tuesday, May 26, 2015

IMF's Blanchard says Greek budget proposals will not provide surplus

Greece's budget proposals are not enough to ensure a surplus this year, the International Monetary Fund's chief economist was quoted as saying on Monday. Greece was supposed to have a 3 percent budget surplus in 2015, but that looks unrealistic now, Olivier Blanchard told the French financial newspaper Les Echos in an interview. "Considering that the most recent estimates mention a substantial budget deficit, we need credible measures to transform this into a surplus and maintain this surplus in the future," Blanchard was quoted as saying.


READ THE ORIGINAL POST AT uk.news.yahoo.com