IMF projects debt to drop 30 points by 2029
Greece’s primary surplus is projected to increase to 2.1% of GDP in 2024, up from 1.9% in 2023, and is expected to remain at that level through 2029, according to the International Monetary Fund’s Fiscal Monitor report on global fiscal developments.
Greece’s public debt, which includes deferred interest from loans taken during the memorandum period, is forecast to decrease from 168.9% of GDP in 2023 to 159% this year, and to gradually decline to 139.4% by 2029, marking a reduction of nearly 30 percentage points.
The overall fiscal balance, including interest payments on public debt, is expected to show a deficit of 1% of GDP in 2024 and 0.9% in 2025, with the deficit gradually rising to 1.5% by 2029.
General government revenues are projected to reach 47.6% of GDP this year, remain at a similar level (47.7%) in 2025, and gradually decrease to 44.2% by 2029.
General government expenditures are expected to be 48.6% of GDP in both 2024 and 2025, and are forecast to decline to 45.7% by 2029.
