The Greek state budget for 2017 projects an economic growth rate of 2.7% and a primary surplus of 1.8%, slightly higher than a target of 1.75% of the administration’s economic policy program.
The 2017 draft budget tabled to Parliament on Monday, also forecasts 760-million-euros support to weak households through the introduction of a Social Solidarity Income plan throughout the country and an additional 250 million euros in a Public Investment Program aimed to boost growth.
The draft plan provides that economic growth will begin in the second half of 2016 for an annual recession of 0.3% in the year, with economic growth rates accelerating to 2.7% in 2017. The unemployment rate is projected to ease to 22.4% of the workforce next year from 23.5% in 2016. The primary surplus is expected to reach 0.63% of GDP this year, surpassing an initial target of 0.5% and to rise to 1.80% of GDP in 2017.
Finance Minister Euclid Tsakalotos said the new budget signaled the return of the Greek economy to positive growth rates.