Greece promises creditors it will deliver on budget pledge

Greece's Prime Minister Kyriakos Mitsotakis, right, shakes hands with the outgoing European Commissioner for Economic and Financial Affairs Pierre Moscovici at Maximos Mansion during their meeting in Athens, Friday, Oct. 4, 2019. The former French finance minister has been credited by Greece with helping keep the country in the euro area during years of financial crisis. He is due to hold talks in Athens on Greece's draft 2020 budget. (AP Photo)

ATHENS, Greece — Greece has promised bailout lenders it will deliver a budget surplus next year and accelerate economic growth, according to the country’s draft 2020 budget.

The draft submitted Monday to parliament includes growth forecasts of 2.0% and 2.8% for 2019 and 2020 — above the European Commission’s forecast of 2.2% growth in Greece next year.

The country’s new conservative government has pledged to renegotiate a commitment to deliver high primary surpluses — the annual balance before debt costs — but says it will honour that pledge next year keeping that surplus just above the target figure of 3.5%.

Greece ended its third successive international bailout last year but remains under regular budget supervision from European Union institutions that control the terms of bailout debt repayment.

The Associated Press