Greece’s central government primary cash surplus recorded a surplus of 7.45 billion euros in the first four months of the year, Bank of Greece (BoG) figures showed on Thursday.
Greece and the institutions took another step towards reaching a staff-level agreement on Wednesday as some issues were apparently settled, although much more needs to be done before talks in Athens wrap up on Saturday.
A leaked report by a consultancy firm on the Public Power Corporation (PPC) sent the majority state-owned entity’s stock price falling earlier this week after it raised concerns about PPC’s viability.
The institutions’ mission chiefs are due to begin talks with Greek government officials in Athens on Wednesday with the aim of reaching a staff-level agreement by next week.
The budget primary balance came to a surplus of 2.33 billion euros in the first four months of 2018, the Finance Ministry (MoF) preliminary budget execution bulletin for April showed on Monday.
Technical discussions between the creditors and the Greek government began in Athens on Monday against a backdrop of continuing disagreements over debt relief and whether Greece needs a precautionary credit line after the programme ends in August.
Having breathed a sigh of relief following the conclusion of the stress test exercise, which did not indicate any need for raising significant additional capital, Greek banks can now continue without any distractions to tackle the major challenge of de-risking their balance sheets by reducing the number of non-performing exposures (NPEs).
The effort to reach a staff-level agreement (SLA) by the May 24 Eurogroup resumes in Athens on Monday with the return of the institution’s technical teams, who will be followed by the mission chiefs.
The immediate focus of the institutions, who are due back in Athens on Monday, will be on the fourth review but discussions are continuing in the background on what debt relief measures may be implemented after the conclusion of the third programme this summer.
Building permits increased by 5.4 percent in February following a rise of 18 percent in January, Hellenic Statistical Authority (ELSTAT) data released on Friday showed.