Greece has agreed with the international
creditors austerity measures and economic reforms that
the government opens access to the next tranche of loans under
the existing aid programme. It is reported by The Wall Street Journal.

“Talks on all issues had been completed,” – said the Minister of Finance of Greece Euclidis Tsakalotos after a lengthy meeting with a delegation of creditors.

The agreement will allow Greece to receive a new batch of loans
necessary for carrying out of payments on the debt in the amount of EUR 7 billion in July
this year, reminds “Interfax”.

In addition, the agreement sets out the terms for
discussions with creditors and the International monetary Fund (IMF) ways
easing Greece’s debt load. “I believe that now will begin negotiations on the debt, as reasons to delay no longer,” said Tsakalotos.

In accordance with the agreement, Greece is required to achieve budget
savings in the amount of about 1% of GDP in 2019 by reducing
pension costs and 1% of GDP in 2020 by lowering the threshold
income that starts paying income tax.

In addition, the government has pledged to hold labour
reforms to privatize a number of assets and also undertake a series of measures to
competitiveness of the economy.

The parties also agreed on a package of measures, mainly the reduction
taxes that Athens will be able to make the case that economic
the performance of the country will be better targeted.

Recall that for Greece is currently being run by a third since 2010 international program of macro-financial assistance that keeps the country from default. It was adopted in 2015 in exchange for promises of new reforms of the pension system and privatization of state property. In the programme amount to 86 billion euros participating countries in the Eurozone, they act through the European stability mechanism.

Greece announced the successful completion of negotiations with creditors 02.05.2017

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