Greece Forecasts Growth in 2015 Prepares Bond Sale

Greece will issue more bonds next year as it posts a second year of growth, the government forecast in its draft 2015 budget.

Athens said it would issue a seven-year and 10-year bond as well as a Treasury bill of over 26 weeks next year, emboldened by a successful return to debt markets earlier this year following a four-year hiatus.

Athens also confirmed it expects to report a budget surplus excluding interest payments of 2.9 percent of GDP next year, just shy of the 3 percent target set under the country’s 240-billion-euro EU/IMF bailout.

The budget also predicted Greece’s economy would grow 2.9 percent next year, in line with the bailout target.

“The country is entering into a long period of sustainable growth rate and primary budget surpluses, which will boost employment, cut unemployment and improve living standards for all citizens,” Deputy Finance Minister Christos Staikouras told reporters.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza