Greece wants softer austerity targets after bailout expires
{{#rendered}} {{/rendered}}
Greece's left-led government wants easier budget saving targets after its current multi-billion euro bailout ends in 2018.
Alternate Finance Minister George Chouliarakis says the government will stick to its agreed targets over the next three years, but wants a significant reduction afterwards.
Under last year's third bailout deal, Greece must achieve primary fiscal surpluses — which excludes the cost of debt servicing — of 0.5 percent, 1.75 percent and 3.5 percent of annual economic output for the years 2016, 2017 and 2018.
{{#rendered}} {{/rendered}}
While it has committed to maintain the high, 3.5 percent target in the medium term after 2018, Chouliarakis said Wednesday that he would prefer surpluses in the area of 1.5-2 percent after the bailout deal expires.
He spoke at a conference at Lagonissi, south of Athens.