Greece's debt-to-GDP ratio expected to decline from 2015: EU report
2014-04-28 10:14:52
Greece's debt-to-GDP (gross domestic product) ratio is expected to decline visibly from 2015 onward as growth picks up and its primary budget surplus becomes more substantial, said a report published by the European Union (EU) on Friday.
The European Commission published its fourth reviewing report on the second economic adjustment program for Greece on Friday.
The report said that the Greece's debt-to-GDP ratio is expected to continue to be gradually reduced to around 125 percent of GDP in 2020 and around 112 percent of GDP in 2022, assuming full implementation of the economic adjustment program.
After the strongly negative contribution of nominal GDP growth in the period 2010-2013, there was a peak of debt-to-GDP ratio at around 177 percent in 2013-2014.
The report is based on the findings of four missions of the troika, comprising the European Commission, the European Central Bank and the International Monetary Fund, to Athens between September 2013 and March 2014.