way back to fiscal consolidationwith the systematic achievement primary surplus and deleveraging in the coming years, he sees it IMF for Greece in its spring financial report released yesterday.

The Fund’s projections are not significantly different from last October’s projections for the primary result, but see a slightly faster de-escalation state debtwith his contribution inflationbut also her development.

In particular, according to the Fund’s Fiscal Monitor report, the primary fiscal result is projected to return to a surplus of 0.4% of GDP this year (vs. 0.7% of GDP in the government’s forecast) from a deficit of 1.5% of GDP in 2022. It should be noted that the government has already announced that the primary deficit in 2022 was close to zero, which is also expected based on the April 21 Eurostat data as part of the Excessive Deficit Process.

The IMF then projects a primary surplus of 1.4% of GDP in 2024, 1.6% in 2025, 1.8% in 2026, and 2% of GDP in 2027 and 2028. , also envision a Greek stability program to be presented to Brussels by the end of April, as this surplus is estimated to ensure debt sustainability.

Return to fiscal consolidation with the systematic achievement of primary surpluses.

This fiscal improvement comes without further fiscal bleeding as budget revenues are expected to decline from 47.9% of GDP this year to 43% of GDP in 2028. Accordingly, spending will also decrease, according to the Fund’s forecasts, from 50.3% to 43.7% over the same period.

What is more impressive is the reduction in debt as a percentage of GDP: from 200.7% of GDP in 2021 to 177.4% in 2022, 166% this year, and then a further decline to 143.6% of GDP in 2028 . budget (which, however, uses a different method of calculation), general government debt stood at 168.9% in 2022 and is expected to fall to 159.3% of GDP in 2023.

The Fund comments on the de-escalation of Greek debt, noting the following: “The role of inflationary surprises in reducing debt in 2022 was determined by the size and composition of each country’s debt. Countries with high initial levels of debt, combined with large inflationary surprises and strong growth, have achieved significant debt reduction (Greece).” The Fund estimates, according to the Fiscal Monitor table, that the debt reduction of about 23 percentage points of GDP between 2021 and 2022 is almost equally due to inflation and growth, with the former accounting for a slightly larger share.

Conversely, an increase in the primary deficit and interest rates they had an increasing effect on debt, but much less so. The Deputy Minister of Finance also noted a significant reduction in public debt yesterday Theodor Skylakakis. Speaking to SKAI, Mr. Skilakakis said the government is providing public debt 15 units of GDP less than it has received.

He also stressed that GDP in 2022 reached 208 billion euros, that is, at least 25 billion euros higher than the GDP of 2019. Also, over the past four years, unemployment has decreased and exports have increased, he stressed.

Regarding the financial program of SYRIZA, Mr. Skilakakis said: “I can’t follow it. SYRIZA promises tens of billions. This shows that he does not believe that he will rule, so he says whatever he wants.