AGL 37.90 Decreased By ▼ -0.12 (-0.32%)
AIRLINK 213.49 Increased By ▲ 16.13 (8.17%)
BOP 9.87 Increased By ▲ 0.33 (3.46%)
CNERGY 6.51 Increased By ▲ 0.60 (10.15%)
DCL 9.22 Increased By ▲ 0.40 (4.54%)
DFML 37.55 Increased By ▲ 1.81 (5.06%)
DGKC 101.00 Increased By ▲ 4.14 (4.27%)
FCCL 35.95 Increased By ▲ 0.70 (1.99%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 14.49 Increased By ▲ 1.32 (10.02%)
HUBC 134.10 Increased By ▲ 6.55 (5.14%)
HUMNL 13.69 Increased By ▲ 0.19 (1.41%)
KEL 5.70 Increased By ▲ 0.38 (7.14%)
KOSM 7.23 Increased By ▲ 0.23 (3.29%)
MLCF 45.85 Increased By ▲ 1.15 (2.57%)
NBP 61.30 Decreased By ▼ -0.12 (-0.2%)
OGDC 228.97 Increased By ▲ 14.30 (6.66%)
PAEL 41.20 Increased By ▲ 2.41 (6.21%)
PIBTL 8.63 Increased By ▲ 0.38 (4.61%)
PPL 202.99 Increased By ▲ 9.91 (5.13%)
PRL 40.24 Increased By ▲ 1.58 (4.09%)
PTC 27.65 Increased By ▲ 1.85 (7.17%)
SEARL 108.70 Increased By ▲ 5.10 (4.92%)
TELE 8.62 Increased By ▲ 0.32 (3.86%)
TOMCL 36.25 Increased By ▲ 1.25 (3.57%)
TPLP 14.00 Increased By ▲ 0.70 (5.26%)
TREET 24.38 Increased By ▲ 2.22 (10.02%)
TRG 61.15 Increased By ▲ 5.56 (10%)
UNITY 34.41 Increased By ▲ 1.44 (4.37%)
WTL 1.69 Increased By ▲ 0.09 (5.63%)
BR100 12,200 Increased By 473.4 (4.04%)
BR30 38,121 Increased By 1744.8 (4.8%)
KSE100 113,784 Increased By 4271.2 (3.9%)
KSE30 35,994 Increased By 1480.9 (4.29%)

ATHENS: Greek Prime Minister Kyriakos Mitsotakis will begin a tour of EU capitals this week, officials said Monday, in a bid to persuade the country's creditors to alleviate tough fiscal targets.

Mitsotakis will begin his meetings with a trip to Paris on Thursday to see President Emmanuel Macron, a government source said.

He will then see German Chancellor Angela Merkel in Berlin on August 29 and Dutch Prime Minister Mark Rutte on September 2.

New Greek finance minister Christos Staikouras told the Financial Times this weekend that the government would swiftly implement a programme of tax cuts and privatisations to promote growth, reassure investors and "move the economy to an upward virtuous spiral".

Mitsotakis, elected last month on a ticket of boosting growth, hopes to win agreement to cut the annual target of 3.5 percent of primary budget surplus which Greece's previous leftist government had pledged to maintain to 2022.

Greece exited its final bailout last year.

Before his victory, Mitsotakis had expressed confidence that he could persuade Greece's creditors to lower the primary surplus target with a front-loaded programme of reforms.

"I've...told my European partners that should we be able to deliver real reforms, we should be rewarded with smaller primary surpluses, at least in 2021 and 2022," he told CNBC earlier this year.

"Symbolically it would be a reward for a country that is actually engaging in meaningful reforms," he said.

The austerity, maintained by the previous government to boost credibility, is also intended to help cut a public debt that last year stood at 335 billion euros ($372 billion), or 180 percent of GDP.

The debt load is forecast to fall to 168 percent of GDP this year, but only through the belt-tightening brought in by the previous leftist government which Mitsotakis's New Democracy party says is stifling growth.

Macron's office on Monday said he would discuss with the new Greek PM "European and bilateral issues, in addition to eastern Mediterranean issues."

Staikouras next month is expected to announce an early repayment of about one-third of the 8.5 billion euros ($9.4 billion) bailout debt that it owes to the IMF, the FT said.

Copyright AFP (Agence France-Press), 2019
 

Comments

Comments are closed.