Greece can achieve a budget surplus by the end of the year, although there is still much work to be done on reforms, according to statements made by IMF head, Christine Lagarde, on the American TV network CNBC.
“When I look at Greece, I am very impressed by the efforts made to restore the country’s budget. It is possible that by the end of 2013 Greece may have a primary surplus, which will be a resounding success,” Lagarde stated.
However, the Head of the IMF added that much more needs to be done, particularly regarding tax reforms, privatization as well as state management. Moreover, the assessment that Greece is getting out of this huge financial crisis was also highlighted by the president of the Eurogroup, Geroun Nteiselmploum.
He spoke about a satisfactory budget development as well as the creation of the expectation that crisis-stricken Greece will be able to to put its economy on a path to growth within 2014. Nteiselmploum however, like Lagarde, did not fail to add that these reforms may be difficult, but are necessary for the modernization of the economy.