Staikouras: 3.9 billion euro surplus following Eurostat’s methodology

"According to the Economic Policy Program, which is evaluated by the Troika, the primary surplus is estimated to be higher than the 812 million euros or 0.4% of GDP.
 
Greece, for the second consecutive time, exceeds the financial objectives of the Program. According to the European System of Accounts to be presented by Eurostat, the primary surplus is estimated higher, at 3.9 billion euros or 2.1% of GDP.
 
That is, the methodology of the European System of Accounts (ESL 95), incorporates the other parameters that are excluded based on the methodology of the Economic Policy Program and, therefore, the primary surplus of the general government is formed at a higher level," Ch. Staikouras said, heralding the amount of primary surplus in 2013.
 
The deputy finance minister also criticized the content of the Reports of the parliamentary Budget Office and said that the opposition rushes and utilizes the findings of any report from the Office "without even having read their contents."
 
As Staikouras said, the Budget Office was refuted when:
 
1. the report had confused the "fiscal" with the "monetary" gap, leading to claims that the fiscal gap is much higher
2. the report argued that "the Troika expects corrective measures to achieve a primary surplus in 2013," which eventually never happened

3. the report argued that "public investments are continuously being cut," which also has not happened
4. the report argued that "the state still does not meet its obligations to suppliers." When the state has already reduced the arrears by 50% in 2013, which, in December 2013, rise, along with the outstanding tax returns, at 4.7 billion euros against 9.2 billion euros at the end 2012
 
According to Staikouras the reports from the parliamentary Office “proceed to many good estimates for the present and the future of the Greek economy.”