Greece blows EU-IMF bailout targets away with strong budget performance

Greece far exceeded its international lenders' budget demands last year, official data showed on Friday, posting its first overall budget surplus in 21 years even when debt repayments are included.

The primary surplus - the leftover before debt repayments that is the focus of International Monetary Fund-European Union creditors - was more than eight times what they had targeted.

Data released by Greek statistics service ELSTAT - to be confirmed on Monday by the EU - showed the primary budget surplus at 3.9 percent of gross domestic product last year versus a downwardly revised 2.3 percent deficit in 2015.

This was calculated under European System of Accounts guidelines, which differ from the methodology used by Greece's in bailout deliberations.

Under EU-IMF standards, the surplus was even larger.

Government spokesman Dimitris Tzanakopoulos said the...