European Commission reveals deficit of EUR4.75 bn in Greek budget

The European Commission will publish a special report on the situation of Greek economy and impact of the state aid package to population on Wednesday. The report envisages deficit of EUR 4.75 billion in Greek budget in 2019-2020.

Report informs citing RIA Novosti that the representatives of the creditors accept the deficit as the result of measures announced by Prime Minister Alexis Tsipras recently.

At the same time, the budget deficit is estimated at 1% of GDP (EUR 1.85 billion) for 2019 and 1.5% of GDP (EUR 2.9 billion) for 2020. However, the Greek government had taken a commitment to get initial surplus of 3.5% of GDP.