Greece’s government on Friday submitted its 2015 budget to Parliament, sticking with high-growth and low-deficit predictions that rescue lenders say are too rosy.
The budget leaves forecasts made in a draft last month unchanged, estimating the economy will grow by 2.9 percent in 2015, after the country emerged from a six-year recession this year.
The budget projects Greece’s primary surplus — state income without taking into account interest payments on outstanding debt — will be 3 percent of gross domestic product. It sees the deficit narrowing to 0.2 percent of GDP next year, from 1.3 percent this year and 1.6 percent in 2013.
Deputy Finance Minister Christos Staikouras said the government stuck to its deficit projection despite disagreement from rescue lenders, but gave no further details.
“They have a different estimation, and they see a budget shortfall, which we do not,” he said.
The budget also comes amid a disagreement between Greece and international creditors on remaining reforms before part of its bailout program ends this year. The dispute has delayed the return to Athens of bailout inspectors.
In Brussels, European Commission spokesman Margaritis Schinas said negotiations were ongoing.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.