EU Commission green-lights Greek 2020 draft budget

The European Commission on Wednesday approved the Greek draft budget for 2020, hailed by the center-right government as containing ambitious measures that will spur growth and bolster investments.

“The institutions have already extensively discussed the budgetary package for 2020 with the Greek authorities in the context of the Enhanced Surveillance framework, with a view to ensuring that the agreed fiscal target will be met,” a Commission representative said in a statement. “The Draft Budgetary Plan fully reflects these discussions.”

The unnamed representative added that Commission will present its opinions on all of the draft budgets presented by euro area member-states, including Greece, by November 30.

Presenting the budget plan to lawmakers in Athens last week, Deputy Finance Minister Thodoros Skylakakis noted that it “signals the economic policy’s radical turn to growth, employment and income increases.”