November 13, 2017 / 7:04 PM / a month ago

Greece to distribute 1.4 bln euros to the crisis-hit, following fiscal outperformance

ATHENS, Nov 13 (Reuters) - Greek Prime Minister Alexis Tsipras said on Monday that his government would distribute 1.4 billion euros to 3.4 million austerity-hit Greeks, following a better than expected fiscal performance.

Tsipras said in a televised statement that Greece had outpeformed its bailout target for a primary surplus - excluding debt servicing costs - of 1.75 percent of gross output in 2017 and its performance “was surprisingly good”.

“For a second year, we are in a position to distribute a social dividend to the people who need it most. Better prepared and more effective this year, we will be able to pay out an even bigger amount,” he said.

Greece paid out about 600 million euros to pensioners in 2016. (Reporting by Renee Maltezou)

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