Sentences with phrase «surplus targets»

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.

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).

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.

The official said that the IMF is still willing to join the program after the second bailout review but there needs to be commitments of lower surplus targets and significant debt relief, which doesn't seem to be happening for now.

«They'll wait until they have greater confidence that they can hit that budget surplus target before they do something significant with the TFSA,» he says.

The Fund said that it would only participate financially and technically if Greece receives significant debt relief and the fiscal surplus targets would be lowered.

Mr Wolff calls the ambition to hit a medium - term surplus target of 3.5 pc as «outlandish» in an economy which has suffered on a scale which surpasses the 1930s Great Depression.

This artificial policy was cobbled together to meet Osborne's artificial welfare cuts in line with his artificial surplus target.

The shadow chancellor, John McDonnell, said there had been «no credible economists that could be found to support the chancellor's surplus target in the first place».

Greece's leftist - led government and the central bank also want lower primary surplus targets, arguing this will give Athens room to cut taxes and help the battered economy return to growth after a protracted recession.

The IMF, which has yet to decide whether it will fund the third bailout, has said that surplus targets of 3.5 % beyond 2018 are not realistic for Greece and has pushed for softer fiscal goals to take part in the financing.

The institutions want Greece to overhaul its pension system and commit to surplus targets.

As a result, in order to ensure that the deficit / surplus target can be met, most governments include «reserves «in their budget plans.

The second possible explanation is that the Finance Minister is including additional «prudence» into his spending forecast to ensure that he can meet or better his deficit / surplus targets.

Economists have been «critical» of the surplus target, saying it is not «credible» and that «in the handbook of possible fiscal rules» the government is choosing «a very, very, very bad one».

Dr Fox's Tory leadership rival Teresa May had stated this week that she was ready to scrap the surplus target if it meant savage tax hikes to balance the books.

Greece, however, won flexibility regarding the 2015 primary surplus target.