Greece recorded a central government primary budget surplus of 8.63 billion euros ($8.9 billion) last year, higher than its target due to a strong economic rebound, finance ministry data showed on Friday.

Greece, the euro zone's most indebted nation, has recovered strongly since it exited three international bailouts in 2018 but still needs to maintain primary budget surpluses of about 2% of domestic output to keep its debt viable.

The government had targeted a central government primary budget surplus - which excludes debt-servicing costs, social security and local administration budgets - of 4.64 billion euros for 2024.

Greek Finance Minister Kostis Hatzidakis said on Thursday that the primary general government budget surplus was seen at 3% of national output last year, overshooting a target of 2.5%, due to stronger growth and higher receipts from clamping down on tax evasion.

The Greek economy expanded by 2.2% in 2024, more than double the average rate of growth seen across the eurozone, on strong revenues from tourism, domestic demand and higher investments.

Budget revenues came in at 74 billion euros, exceeding the government's target by 1.2 billion euros.

Spending came in at 73.74 billion euros, 2.7 billion euros less than targeted, the data showed.

Source: Reuters