Greek lawmakers to vote on 2018 budget, with more austerity

Greek lawmakers are to vote on the country’s 2018 budget, which includes further austerity measures beyond the official end of Greece’s third international bailout next summer. (Photo by Klearchos Kapoutsis/Flickr, CC BY 2.0)

ATHENS, Greece — Greek lawmakers are to vote on the country’s 2018 budget, which includes further austerity measures beyond the official end of Greece’s third international bailout next summer.

The parliamentary debate was to wrap up Tuesday with speeches by party leaders, including Prime Minister Alexis Tsipras, before a midnight vote.

The budget promises Greece’s international lenders continued belt-tightening measures and high primary budget surpluses — the budget balance before debt and interest payments are taken into account.

It sets the primary surplus at 2.44 per cent for 2017 and 3.82 per cent for 2018, higher than previously estimated.

Greeks will see new tax hikes and pension cuts over the next two years.

Bailout lenders had demanded additional guarantees the Greek economy will be stabilized before considering measures to improve the debt repayment terms.