Greek public debt expected to reduce to 158.8% of GDP in 2024 - Primary surplus of 2.1%

Greek public debt expected to reduce to 158.8% of GDP in 2024 - Primary surplus of 2.1% | TheGreekDeal.com

IMF

The International Monetary Fund (IMF) forecasts a 10% reduction in public debt to 158.8% of GDP in its Fiscal Monitor report for Greece for 2024.

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17/04/24 • 16:43

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The International Monetary Fund (IMF) forecasts a primary surplus of 2.1% of GDP this year and a 10-percent reduction in public debt to 158.8% of GDP in its Fiscal Monitor report for Greece.

The primary surplus is expected to be maintained at 2.1% of GDP until 2029, which is the time horizon of the Fund's projections.

If interest on public debt is taken into account, the general government budget deficit is projected at 0.9% of GDP this year, rising gradually to 1.4% in 2029. Primary surpluses will allow Greece's public debt to decline steadily in the coming years, with the level of public debt falling to 138.8% of GDP in 2029. In the same year, Eurozone government debt is projected to fall slightly to 87.7% of GDP from 88.6% in 2023.

General government revenue is projected to decline gradually from 46.8% of GDP this year to 43.7% in 2029, while general government expenditure is projected to fall from 47.7% of GDP to 45.1%, respectively.