Greece gets serious about budget consolidation-Fitch


Greece's second-consecutive budget surplus demonstrates the authorities' continuing commitment to fiscal consolidation, Fitch Ratings said on Thursday.

This supports Fitch's expectation of improving debt sustainability in Greece, although how far and how fast public debt will fall will largely be determined by the nature of the debt relief currently under discussion by Greece's international creditors, the credit agency said in a statement.

The latest figures show that Greece's budget surplus hit 0.8 percent of economic output in 2017, up from 0.6 percent a year earlier, representing significant fiscal outperformance by Greece, the agency added.


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