Greek lawmakers adopt first post-crisis budget

AFP  |  Athens 

Greek lawmakers adopted the first budget free of foreign assistance in almost 10 years, predicting economic growth of 2.5 per cent in 2019, better than the expected average.

Tuesday's budget includes 900 million euros (USD 1 billion) worth of government support for Greeks in the form of family and housing benefits, tax cuts and reduced social charges.

The government had already said it would spare elderly Greeks further pension cuts after receiving approval for the move.

The budget was passed by 154 members in the 300-seat Assembly.

"Today were are voting on the first budget of the 'post-memoranda' era ... after eight years of austerity," said, alluding to earlier budgets that were dictated by international institutions and donors.

has received loans worth a total of 289 billion euros since 2010.

But recently posted a larger-than-expected primary budget surplus, albeit one that excludes the cost of debt payments.

has committed to maintaining that level until 2022, and is banking on a surplus of 3.98 per cent this year. Public debt has climbed to 335 billion euros, or 180.4 per cent, of GDP in 2018 compared with 176.1 per cent of GDP the previous year. It is forecast to fall to 167.8 per cent in 2019.

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First Published: Wed, December 19 2018. 06:25 IST