Greece posts 3.9 percent GDP primary surplus in 2016: Greek statistical authority
12:49, Apr 25, 2017
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"The mission is returning to Athens today with the objective of concluding a staff level agreement as soon as possible", commission spokesman Margaritis Schinas told a daily briefing.
Under the third Greek bailout program reached in the summer of 2015, a target of 0.5 percent of GDP primary surplus was agreed for 2016.
The debt crisis hit Greece in 2010, with the European Commission, the IMF, the European Central Bank and the EU Stabilization Fund agreeing on $344.6 billion loan programs to Athens in exchange for wide-ranging economic reforms in the country.
The IMF and Greece's eurozone bailout creditors also remain at odds over surplus targets and the extent of debt relief promised to Athens. The talks are expected to focus on the final details of these measures, which will be worth about 3.6 billion euros ($3.85 billion) combined.
Greece's independent statistics agency says the country has posted a high primary budget surplus in 2016, at 3.9 percent of gross domestic product.
The EU's statistics agency Eurostat said Greece had a primary surplus of 4.2 per cent previous year.
Under ESA 2010 guidelines, the general government's primary balance, excluding debt servicing, reached a surplus of 3.9 percent of economic output previous year versus a downwardly revised 2.3 percent deficit in 2015.
The IMF's numbers for 2017 confirm that Greece has achieved the target for 2016 and of the surplus that they have predicted last Autumn, at 3.3% of GDP for 2016.
Greeks have suffered seven years of repeated income cuts and tax hikes after the public finances imploded in 2010, forcing the country to rely on global bailouts.
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