Greek Fin. Min.: We managed to reduce the deficit to zero

“Today’s official statistics confirm that Greece succeeded in bringing the fiscal deficit to zero in 2022, even recording a small primary surplus.
We thus achieved, all together, households, businesses, the State and the Government, the largest – pan-European – fiscal improvement, despite the fact that the support measures for society were among the most generous in Europe” says the Minister of Finance Christos Staikouras in a statement, with leading to a primary surplus in 2022.

And the announcement continues:

“In the same year, the GDP of the country increased by 26 billion euros. And public debt fell by 23% of GDP. The Greek economy has turned the page. He returned, powerfully, to the European scene. It is now growing at one of the highest rates in Europe, from tail to performance in the previous four years. Public finances are stabilizing and improving. The productive model of our country is changing, with a significant increase in investments and exports. In short, Greece has charted a new course and is moving on a more hopeful path. We achieve, all together, the promotion of a modern, productive, competitive, extroverted and sustainably growing economy. An economy with household and stable public finances. A resilient and strong economy. A strong and fair Greece. A Greece that exudes self-confidence, reliability and trust”.

Hellenic Statistical Authority-ELSTAT data

Greece achieved a marginal primary surplus of 273 million euros or 0.1% of GDP in 2022, confirming the relevant reports of the Ministry of Finance.

It is worth noting that this is a significant change from the budget target of a primary deficit of 1.6% of GDP.

ELSTAT’s data show that from a deficit of 8.45 billion euros in 2021, in 2022 the primary balance of the general government turned into a surplus of 273 million euros and correspondingly from -4.7% of GDP to 0.1%.