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Despite strong close in Dec, industrial turnover up by just 0.3 pct YoY in 2025
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Despite sharp increase in Dec, current account deficit improves markedly in 2025 to 14.11 bln
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Central government debt rises to 406.18 bln in Q4 as repos increase
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Jan primary surplus at 3.5 bln as underspend continues into 2026
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Sharp drop in oil costs drives 5.4 pct YoY decrease in import prices
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Drop of 4.1 pct YoY for car sales at start of 2026
2014 draft budget: An ambitious fiscal consolidation targeting a primary surplus of 1.6 pct
The Ministry of Finance (MoF) tabled the 2014 draft budget to the Greek parliament on Monday with headline figures confirming recent press reports. As was broadly expected, 2014 will be another year of ambitious budget consolidation with a further cut in primary expenditure by 2.77 billion year on year (yoy) and a revenue increase of 2.55 billion yoy (both on a cash basis) to reach the MoU target of a general government (gg) primary surplus at 2.84 billion (1.6 percent of GDP).
The achievement of a sustainable primary surplus has emerged as the Holy Grail of Greece’s fiscal adjustment as it would pave the way for official discussions on the ultimate target of debt easing measures to begin in the coming months.
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