Preliminary 2024 state budget to be tabled in Parliament Monday; foresees 2.1% primary surplus for 2024
The Greek Parliament is set to present the draft state budget for 2024 on Monday, and it includes a forecast of a 2.1% primary surplus on GDP for the year 2024. Despite the challenges posed by natural disasters that Greece has faced, there is also a possibility of achieving a primary surplus of 0.7% for 2023.
This budget signifies a significant step towards the recovery of the Greek economy after a challenging period characterized by the Covid-19 pandemic, the Ukraine conflict, and rising prices. Prime Minister Kyriakos Mitsotakis and National Economy and Finance Minister Kostis Hatzidakis have affirmed Greece’s commitment to maintaining fiscal responsibility within the framework of the Stability Program.
The draft budget allocates liquidity injections of 2.5 billion euros to nearly 3 million households. This includes the first salary increase for civil servants in 14 years, pension raises for the second consecutive year, and disbursements of both emergency and permanent supplements.
Furthermore, the government is closely monitoring the upcoming credit ratings assessments by agencies like S&P Ratings on October 20 and Fitch Ratings on December 2. Greece hopes that at least one of these agencies will grant the country the coveted investment grade status. [AMNA]
