Draft budget sees revenue gap, new measures

A draft budget for 2018 presented in Parliament on Monday predicted strong growth but also pointed to a significant revenue shortfall this year that is likely to result in nearly 2 billion euros in new austerity measures next year. 

The blueprint submitted to Parliament by Alternate Finance Minister Giorgos Houliarakis forecasts a 2.4 percent economic growth rate for 2018 following a 1.8 percent increase this year.

It also predicts that the primary surplus will significantly exceed the target of 1.75 percent set by creditors this year, hitting the 2.2 percent mark, and reaching 3.57 percent in 2018.

The additional revenue will allow the government to offer relief to "economically vulnerable households," the Finance Ministry said, noting that the precise amount of the "social dividend" will be determined next month.

Mission chiefs representing Greece's...