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Greece beating budget target, eyes surplus

Thursday - 12/12/2013, 12:00pm  ET

ATHENS, Greece (AP) -- Greece says it beat its budget targets in the first 11 months of the year and is on track to achieve a modest primary surplus -- that is, excluding the cost of servicing its crushing debt burden -- for the full year.

A finance ministry statement on Thursday says preliminary figures for January-November show a budget deficit of 3.2 billion euros, better than the target of 4.3 billion euros. The ministry said it achieved a primary surplus of 1.2 billion euros.

These figures exclude data for local government and certain other areas of state spending

The government hopes to post a primary surplus this year, a key condition to qualify for further debt relief from its European partners.

Greece has been kept from bankruptcy by international bailouts since 2010.


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