Greek gov’t submits 2019 state budget draft, agreed pension cuts not included
The Greek government submitted the state budget draft for 2019 on Monday night at the Greek Parliament without including the new pension cuts that were agreed with international creditors under the last bailout program which expired this August.
There was no need to slash the pensions from January 1 next year in order to achieve the agreed primary surplus of 3.5 percent GDP for 2019, the Finance Ministry argued in an e-mailed press statement.
The satisfactory financial performance of the years 2015-2018 and the improvement of the macroeconomics of the Greek economy give the space to the government to not make any new cuts to the pensions and continue supporting the income of the households, the ministry said.
In addition, the draft includes reductions of taxes and contributions to social insurance funds.
Read more China Org