Arab Today, arab today imf says greek\s fiscal performance on track to meet target
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

IMF says Greek\'s fiscal performance on track to meet target

Arab Today, arab today

Arab Today, arab today IMF says Greek\'s fiscal performance on track to meet target

Washington - XINHUA

The International Monetary Fund (IMF) said on Wednesday that the Greek economy is beginning to stabilize and the fiscal performance is on track to meet targets, after it concluded a review with EU partners, a precondition for Greece to get new rescue loans. Staff teams from the IMF, European Commission and European Central Bank (ECB) agreed that the economy is poised for a gradual resumption of growth, and prices are adjusting and inflation remains well below the euro area average, according to a IMF statement. "We believe that the 2014 fiscal targets will also be met, taking into account the measures being implemented and planned. The authorities reconfirmed their commitment to implement policies needed to achieve the 2015 primary surplus target of 3 percent of GDP," it said. The staff team of the IMF and EU auditors began their latest round of inspection on the progress of the three-year Greek austerity and reform program last September to decide whether Greece is eligible to get the next 1 billion euro of rescue loans. "The authorities are making progress on structural reforms to improve the growth potential and flexibility of the Greek economy and help create a fairer and more supportive environment for investment, growth, and job creation," the staff team concluded. Greece is committed to implementing a very large majority of product market reforms, taking concrete measures to liberalize the transport and rental markets and open up closed professions, according to the statement. Progress is also being made in reforms of the public administration, which should reduce the burden of red tape and improve the quality of public services to the Greek people. The Greek authorities are committed to taking all necessary actions to ensure that banks remain healthy and adequately capitalized, but the staff team found there are upside risks to the capital needs estimates, if the authorities and banks do not urgently and efficiently address the high level of non-performing loans. The staff team warned the Bank of Greece remain vigilant in its oversight of the banking system and proceed forcefully in requiring banks to quickly work out their large stock of problem assets.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf says greek\s fiscal performance on track to meet target Arab Today, arab today imf says greek\s fiscal performance on track to meet target

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf says greek\s fiscal performance on track to meet target Arab Today, arab today imf says greek\s fiscal performance on track to meet target

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday