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Athens - Greece posted a primary budget surplus in the first eight months of the year that was more than double the amount targeted under its international bailout programme, the Finance Ministry said Friday.
A higher-than-expected surplus of €1.95bn ($2.51bn) was logged when the target had been €962m, Deputy Finance Minister Christos Staikouras said
He said revenues had dwindled slightly because of the postponement of the collection of the first installment of a new annual property tax but called the budget "a clear indication that the country's public finances are stabilizing with the achievement of primary surpluses."
One of Greece's bailout requirements is to maintain a balanced budget as a condition for it to continue to receive additional international financial assistance.
The government in Athens is working to bring the country out of a six-year recession, but unemployment still stands at 27%.
The announcement by the Finance Ministry was made as European finance ministers were set to meet in Milan to discuss French-German proposals to boost bank lending and investments in the eurozone.
The Eurogroup was also scheduled to discuss Greece, Cyprus and Ireland, all of which have received bailouts.
While no decisions were planned for Greece, Cyprus was expected to see its next aid tranche delayed because of slow progress on tackling bad real estate loans.
Ireland was seeking authorization from its euro peers to go ahead with the early repayment of loans received from the International Monetary Fund.
