Greece Hits a Bailout Target. The IMF Is Not Convinced
- IMF doubtful country can sustain level of primary surplus
- The fund sees surplus gains coming from one-off measures
Lagarde Says IMF Not Asking for More Austerity in Greece
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Greece achieved a 2016 primary surplus almost seven times higher than its bailout target, but the International Monetary Fund is skeptical the country can sustain that performance.
The Hellenic Statistical Authority is set on Friday to unveil data on last year’s primary surplus, which Eurostat is expected to validate on Monday. The surplus will be close to 4 percent of gross domestic product, according to a finance ministry official who asked not to be identified in line with policy. The bailout target was for a primary surplus of 0.5 percent of GDP.