Primary surplus at 3.9%: ELSTAT

Considerably higher than 0.5% projections

The 2016 primary surplus will be 3.9%, according to the Greek Statistical Services (ELSTAT). The President of ELSTAT, Thanos Thanopoulos made the announcements today during a press conference. The figure substantially exceeds the initial projection of 0.5%. In absolute numbers this translates into 6.937 billion euros. The primary surplus will be slightly lower than the figure projected in the bailout program, but still way over the target. “It is the 14th time that the data have received validation by Eurostat”, said Mr. Thanopoulos. He went on to state that ELSTAT had constant validations on its projections by Eurostat twice a year since 2010. The IMF released its estimation this week that the primary surplus of Greece would stand at 3.3%, revising its initial outlook.