Greece's government is promising bailout lenders continued austerity and high primary budget surpluses in its 2018 budget, the last under eight years of international rescue programs. In the budget submitted to parliament late Tuesday, the government set targets for primary surpluses — the budget balance before debt repayment — higher than previously estimated, at 2.44 percent this year and 3.82 percent in 2018. Bailout lenders had demanded additional guarantees that the Greek economy will be stabilized before considering additional measures to improve the terms of debt repayment. The government last week promised a one-off payment worth 1.4 billion euros ($1.6 billion) from the 2017 budget to top up welfare programs. Lawmakers will vote on the 2018 budget on Dec. 22, following a four-day parliamentary debate.

Source: ABC News November 21, 2017 18:45 UTC