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EuroWorking Group assesses progress in Greek program


At yesterdays EWG, finance officers of the euro-zone countries reportedly found that the Greek economy is improving based on the expectation that a primary surplus of 1.75% of GDP is achievable, deposits are returning to the banks and GDP growth may exceed 1.8%.


Regarding the disbursement of the EUR 800mn sub-tranche from the 2nd review, ESM may approve it next week after Greece sends some additional data on the repayment of govt arrears to the private sector.

Mission heads will arrive in Athens in mid-October for the formal launch of the next program review. In this context, the Greek FinMin is set to meet with Commissioner Moscovici today in Brussels.

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