![IMF sees primary surpluses and debt reduction for Greece until 2028](https://www.ot.gr/wp-content/uploads/2023/04/IMF-2.jpg)
The return to primary surpluses from this year, which will increase until 2028, is predicted by the IMF in its report on the fiscal prospects of its members (Fiscal Monitor). Furthermore, it estimates that the reduction of the public debt will continue without an increase in taxes.
In particular, the IMF forecasts a primary surplus of 0.4% of GDP this year, which will increase to 1.4% of GDP in 2024, continue to increase to 1.6% and 1.8% of GDP in 2025 and in 2026 respectively, while it will stabilize at 2% of GDP in 2027 and 2028. It is worth noting that the Fund continues to calculate the primary surplus based on the methodology followed by the enhanced surveillance, which was completed last August. This is also the reason why for 2022 the IMF still predicts a primary deficit of 1.2% of GDP, when the economic staff of the government has spoken of a balanced budget.
Beyond that, the Fund projects deficit reduction but not a balanced budget, at least until 2028, as it projects the fiscal deficit as a percentage of GDP to decline from the 4% it predicts it reached in 2022 to 2.4% this year , 1.3% in 2024 and then to 1.1%, 0.9%, 0.8% and 0.7% respectively for 2025, 2026, 2027 and 2028.
Income, expenditure and debt
Regarding public revenues as a percentage of GDP, from their peak of 51.7% reached in 2023 due to the large increase in inflation, it is expected to decrease to 49.7% this year, 45.7% in 2024, 45.2% in 2025, 44.7% in 2026 and landing at 43.6% and 43% in 2027 and 2028.
A downward trend is also predicted for public expenditure, which as a percentage of GDP peaked in 2022 at 55.5% due to support measures against the energy crisis. They are expected to de-escalate to 50.3% in 2023, 47% in 2024 and then to 46.2%, 45.5%, 44.4% and 43.7% respectively for the years 2025, 2026, 2027 and 2028.
Finally, for public debt, the IMF predicts a decline, although the report includes the measurement of debt based on the liabilities that Greece would have if capitalized on the outstanding debt and interest on official sector loans. Therefore, the IMF projects that debt will decrease by 33.8% from 177.4% of GDP in 2022 to 143.6% at the end of 2028.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country