IMF: Greek public debt below 150% of GDP by 2027

The IMF foresees Greek public debt as dipping below 150 percent of GDP by 2027, while also predicting that the country will also achieve a primary surplus in 2013 and the next few years as well.

The updated forecasts are listed in the Fiscal Monitor report, which was released on Thursday.

The Washington D.C. Fund also forecasts that the general government primary surplus will reach 0.9 percent of GDP in 2023; rising to 2 percent in 2027.

According to the report, the general government balance, including capital payments on debt, will show a deficit of 1.9 percent of GDP in 2023, from a shortfall of 4.4 percent this year, falling to 0.7 percent in 2027.

Public revenue is expected to fall from 47.6 percent of GDP this year to 45.9 percent in 2023 and to 43.6 percent in 2027, while public spending is projected to fall from 52 percent this year to 47.8 percent in 2023 and to 44.3 percent in 2027.

The general government debt is expected to fall from 199.4 percent of GDP in 2021 to 177.6 percent this year, to 169.8 percent in 2023 and to 149.9 percent in 2027.

The IMF called national governments to maintain an austere fiscal policy and to adopt focused support measures against high energy prices.