Greece Finance Ministry disagreed with IMF report

Greece finance ministerThe report of the International Monetary Fund (IMF) does not reflect the real economic situation in Greece, says Finance Minister Euclid Tsakalotos. In his conclusions the Fund is “not fair” in many sectors and are not based on statistics. Finance Minister of Greece is adamant that the IMF does not take into account the reforms that the Greek government carried out under the program of the European Stability Mechanism (ESM) and significant acceleration of changes, especially with regard to serious reforms in the pension system and the establishment of independent tax authorities.

The IMF report says that the country has implemented important reforms, but are needed more steps to ensure the country’s return to sustainable growth. The recommendations are to expand the base of taxation and remove exemptions and more rational spending on pensions.

In the institution there are disagreements whether Greece will be able to achieve budgetary targets. According to European lenders the budget surplus of 3.5% in 2018 is indeed ambitious, but achievable goal.

Euclid Tsakalotos himself stated that preliminary data show that in 2016 Athens achieved a budget surplus of 2% of gross domestic product (GDP). The allegations that the country will not achieve surplus of more than 1.5% of GDP in 2018 are inconsistent with the present development is categorical Greek finance minister.

Fiscal target of Greece for 2016 was a surplus of 0.5%.

Athens is in the middle of critical negotiations for the implementation of the recorded in the third rescue program for the country. Hopes of Greece are the second review to be completed by February 20, and the country entered the program to encourage the European Central Bank (ECB) in early March.