Data from the European Commission indicates that the Greek deficit should fall below 3 percent in 2016 and that Athens should outperform its agreed primary surplus target of 0.5 percent this year. (cnbc.com)
The plan is premised on a primary surplus target of 1 %, 2 %, 3 %, and 3.5 % of GDP in 2015, 2016, 2017 and 2018 respectively (both sides agree on these targets). (theguardian.com)
The new legislative package, agreed on late Sunday, consists of the pension reform and direct and indirect tax reforms, which will allow the government to achieve some 5.4 billion euro spending cuts and to ensure savings to meet a 3.5 percent budget surplus target by 2018. (sandiegouniontribune.com)