Greece Forecasts Growth in 2015 Prepares Bond Sale

Greece will issue more bonds next year as it posts a second year of growth, the government forecast in its draft 2015 budget.

Athens said it would issue a seven-year and 10-year bond as well as a Treasury bill of over 26 weeks next year, emboldened by a successful return to debt markets earlier this year following a four-year hiatus.

Athens also confirmed it expects to report a budget surplus excluding interest payments of 2.9 percent of GDP next year, just shy of the 3 percent target set under the country’s 240-billion-euro EU/IMF bailout.

The budget also predicted Greece’s economy would grow 2.9 percent next year, in line with the bailout target.

“The country is entering into a long period of sustainable growth rate and primary budget surpluses, which will boost employment, cut unemployment and improve living standards for all citizens,” Deputy Finance Minister Christos Staikouras told reporters.

via CNBC

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