(MENAFN- Qatar News Agency) Greece's primary budget surplus for 2013 will exceed US $2.05 Billion (euro1.5 billion), compared with an upwardly revised target of 812 million.
The budget surplus "will be nearly double its target", the country's prime minister Antonis Samaras has sai
The primary budget surplus, which doesn't take into account interest payment
The apparent improvement comes a year ahead of schedule and after years of tax rises and spending cuts demanded by international creditors in exchange for two bailouts worth a combined euro 240 billio
Athens wasn't expected to achieve a primary surplus until the end of 2014, according to goals set by the European Union and the International Monetary Fun
Under the conditions of Greece's lending agreement, the country is able to distribute 70% of any excess primary surplus above its targe
Lenders set the caveat of primary surplus to grant Greece further debt relie
The country had to reach surplus this year under the terms of its euro 240 Billion bailou
After a sluggish period, Greece's growth rate is improving and Samaras expects a rate of 2% next year and 3% in 201
Greece is also mulling to re-enter the bond market, but this is subject to approvals from donors.
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