Greece’s creditors from the EC, ECB, ESM and IMF want an additional 3 billion euros worth of measures to be implemented in Greece in 2016 and a total of 6-7 billion euros by 2018. Fears that there is fiscal deficit in the state budget mean that Greece may not receive the 1-bln-euro bailout tranche despite the ratification of a multi-bill of 13 prior actions by Greek Parliament on Tuesday, December 15.

The government withdrew its “parallel program” focused on offering humanitarian aid to Greece’s vulnerable groups so as to appease creditors and ensure that they kept their side of the bargain following the implementation of tough reforms. Even so, the ESM has yet to meet in order to approve the release of the bailout installment prefering instead to wait untill details regarding health expenditure are published in the government’s gazette.

Sources from the side of the lenders state that the government submitted the new budget without having it approved by Greece’s creditor. They now calculate that it has a gap worth 1.5% of the GDP. Representatives from the quartet of Greece’s creditors are set to arrive in Athens on January 18 so as to pressure the government to submit supplementary reforms for 2016. Also pending is the economic policy program for 2016-2019.