Finance minister Yannis Stournaras seems to think things are looking up.
- Greece may not have fiscal gap in 2015-26 finances
- If it does will be covered by public sector reforms not wage, pension cuts or tax hikes
- Greece on track to meet -4.2 GDP in 2013 but may be better due to strong tourist season
- Top priority to have primary budget surplus in 2013 and return to growth in 2014
- Expects more companies to express interest when privatisation of state natural gas company is relaunched
The minister in an interview with Reuters said the biggest challenge was political and tied to austerity.
I don’t see any economic risk, it’s political risk and it has to do with the fatigue of MP’s.
MP’s just reflect the average man or woman in the street, they have to believe that there is light at the end of the tunnel. If they believe it they will continue voting for the few necessary measures left, if they don’t they are not going to, that is the risk.
The possible gap in the 2015-16 was seen by EU projections and Stournaras is pointing to Greece’s own forecasts, which have not been concluded yet, so talk of avoiding the gap is all “maybe’s” and “possibly’s”
