IMF estimates that Greece needs 25 billion euro to cover its financing needs in the biennium 2015-2016.
This is what the half-yearly report “Fiscal Monitor” of the IMF, which was published today, highlights.
The report comes to the conclusion that the biggest gap is considered to be during 2015 and is estimated at 10% of DP or about 18 billion Euro.
The Greek government will have to cover the above amount, by having recourse to the solution of the output in the markets, in case of deciding to terminate prematurely the Support Fund program and if there is no agreement for additional EU assistance .
On the other hand, the “hole” significantly reduces in 2016 to almost 7 billion euro (4.3% of GDP), due to shrinkage of the deficit and debt servicing costs. The IMF program expires in March 2016.
At the same time, the Fund appears positive that Greece will achieve its primary surplus target for both 2015-16 (3% and 4.5% of GDP, respectively) and 2017 (4.5%).