Greece’s New Budget Forecasts Significant Deficit Reduction
The Greek Fiscal Council reports a positive outlook for the economy, with projections indicating a decrease in the general government deficit to 0.7% of GDP for 2024. This marks a shift from previous estimates of 1% and 1.1%. For 2025, the deficit is expected to stabilize at 0.6%, ensuring compliance with the 3% benchmark. The council also notes a predicted drop in the debt-to-GDP ratio, although the current high level of debt still necessitates continued efforts for significant reduction over the medium term.