Dobrobowsky: Primary surplus of 3.5% to 2018 to deal with debt - 91 Vital

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Wednesday 4 October 2017

Dobrobowsky: Primary surplus of 3.5% to 2018 to deal with debt

In an interview with Reinische Post today, Mr Doroboks stressed that despite the high debt of 180% of GDP, there would be no need to cut debt, underlining that measures have already been taken to avoid this action in the May Eurogroup of 2016. 

"Contra" in the IMF's view, the Commisson's vice-president estimates that he does not need to "cut" debt, and in support of his words he reports the positive forecasts of the Commission for the Greek economy.

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"The IMF has clearly more pessimistic forecasts than ours," he stresses. "If you look at the 2015 and 2016 fiscal outcomes, you will find that they have surpassed the Commission's forecasts. The Greek economy is growing again and the country has come out of the excessive deficit procedure.

Now the most important is to achieve a primary surplus of 3.5% in 2018 to tackle the problem of high debt. If the course for the country is upward, the reforms agreed and we move on to debt relief measures, as agreed in the Eurogroup, we are convinced that Greece can face the debt problem. "

"Reform takes time"

The ongoing delays in the past on ratings have prompted the German journalist to ask the Vice-President of the European Commission whether he believes this time, with the third assessment, it will do better with a government that promises reforms, but does not apply them. 

"Implementing reforms is something that takes time," Dobroffsky replied. "We have seen it in all three adjustment programs for Greece. But overall, these three programs have achieved a lot of financial stability, a modern administration and a stronger economy. " 

The Vice-President of the Commission also referred to other current issues of European news. For the zero interest rate policy of the European Central Bank, it states that the ECB is independent and can decide on its monetary policy. For Brexit he appeared troubled that the negotiating process did not proceed at the desired pace.

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