Greece will meet its target of a primary budget surplus exceeding 800 million euros ($1.1 billion) in 2013, the deputy finance minister said on Tuesday.
Deputy finance minister Christos Staikouras told reporters that the general government primary surplus -- the budget surplus not counting debt servicing costs -- would close at "over 800 million euros" in 2013.
"This is a major primary surplus, the highest in Europe," Staikouras said.
The central government surplus for the 12-month period of 2013 is already 691 million euros, he added.
"This means that the goal of a general government primary surplus of at least 800 million euros is achievable," Staikouras said.
This is on track with earlier government estimates of a primary surplus of 812 million euros in 2013 at the general government level, the criterion monitored under the terms of Greece's international bailout.
It is the first time in over a decade that the country has registered a primary surplus, according to the finance ministry.
Greece hopes to utilise these savings in order to obtain assistance with its enormous debt from its international creditors later this year.
Prime Minister Antonis Samaras has pledged to give most of the surplus back to those worst affected by four years of austerity cuts.
Also on Tuesday, the Greek debt agency raised 1.625 billion euros in three-month treasury bills, with the interest offered to lenders dropping to 3.75 percent from 3.9 percent in December.
After six straight years of recession, the Greek economy is forecast to register slim growth this year, and the government hopes to start selling long-term debt for the first time since 2010.
Finance Minister Yannis Stournaras told the Financial Times on Friday that Greece could issue 1.5-2.0 billion euros in five-year bonds in the second half of the year.
However, the International Monetary Fund -- one of Greece's three official creditors alongside the EU and the European Central Bank -- has said that considerable uncertainty still hangs over the Greek economy, despite the country announcing it will exit the IMF-EU bailout this year as scheduled.
Greece will meet its target of a primary budget surplus exceeding 800 million euros ($1.1 billion) in 2013, the deputy finance minister said on Tuesday.
Deputy finance minister Christos Staikouras told reporters that the general government primary surplus — the budget surplus not counting debt servicing costs — would close at “over 800 million euros” in 2013.
“This is a major primary surplus, the highest in Europe,” Staikouras said.
The central government surplus for the 12-month period of 2013 is already 691 million euros, he added.
“This means that the goal of a general government primary surplus of at least 800 million euros is achievable,” Staikouras said.
This is on track with earlier government estimates of a primary surplus of 812 million euros in 2013 at the general government level, the criterion monitored under the terms of Greece’s international bailout.
It is the first time in over a decade that the country has registered a primary surplus, according to the finance ministry.
Greece hopes to utilise these savings in order to obtain assistance with its enormous debt from its international creditors later this year.
Prime Minister Antonis Samaras has pledged to give most of the surplus back to those worst affected by four years of austerity cuts.
Also on Tuesday, the Greek debt agency raised 1.625 billion euros in three-month treasury bills, with the interest offered to lenders dropping to 3.75 percent from 3.9 percent in December.
After six straight years of recession, the Greek economy is forecast to register slim growth this year, and the government hopes to start selling long-term debt for the first time since 2010.
Finance Minister Yannis Stournaras told the Financial Times on Friday that Greece could issue 1.5-2.0 billion euros in five-year bonds in the second half of the year.
However, the International Monetary Fund — one of Greece’s three official creditors alongside the EU and the European Central Bank — has said that considerable uncertainty still hangs over the Greek economy, despite the country announcing it will exit the IMF-EU bailout this year as scheduled.
