Creece will not meet its primary surplus target for 2019, Stournaras says

Governor of the Bank of Greece, Yannis Stournaras has expressed the institution's doubts that Greece will manage to meet its primary surplus target of 3.5% of the GDP for 2019. The bank estimates it will reach 2.9% instead.

Bank of Greece governor Yannis Stournaras speaks during a meeting of the bank's shareholders in Athens on April 1, 2019. Source: (Photo credit should read ANGELOS TZORTZINIS/AFP/Getty Images)

Speaking during an investment forum, Mr Stournaras said that the Central Bank of Greece believes the country will miss its primary surplus target of 3.5% of the gross domestic product and will instead retreat to 2.9%. 

He argued that a reduction of the country's targets on the GDP in order to boost investment and growth. 

His comment's caused the ire of Greece's Finance Minister, Euclid Tsakalotos, who said to Kontra news that Greece will meet its target, as it has done for the past 3 years.

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Minister of Finance , Euclid Tsakalotos seen during the presentation of program of SYRIZA political party at the Athens Concert Hall. Source: Photo by Giorgos Zachos / SOPA Images/Sipa USA.