Greece to Miss 2015 Privatisation Targets

September 3, 2015 Share Print 0

Greece will miss its revenue target from asset sales this year due to delays in a 1.2 billion euro airport deal, the head of its privatisation agency said on Wednesday, in a setback to efforts to meet the terms of its new bailout.

As part of its commitments under the 86 billion euro ($97 billion) rescue loan from international creditors, Greece aims to raise 1.4 billion euros from privatisations this year.

It has a patchy record of meeting such targets, and Stergios Pitsiorlas said reaching the 2015 figure was also now “unfeasible”.

“On the other hand, I think it is realistic that we achieve the 2016 targets,” he told Reuters in an interview.

Greece aims to cash in 3.7 billion euros from asset sales next year and 1.3 billion euros in 2017.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.