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This report looks at the structure and the underlying assumptions of Greece’s draft budget for 2017, which was released earlier this week. Based on an analysis of its main components, it claims that the programme target for a 0.5% of GDP primary surplus this year remains well within reach, while the respective target for 2017 (+1.75% of GDP) is deemed attainable, conditional on a notable improvement in domestic economic activity in the months and quarters ahead.