Prime Minister Alexis Tsipras announced on Thursday that he has received “very positive news from Brussels” following an assessment of Greece’s draft 2019 budget.
According to the government, the International Monetary Fund and Greece’s lenders have agreed to remove a major round of government funding cuts planned for next year.
Bailout creditor representatives deliberated to discuss future actions and have agreed to scrap extra cuts to help protect public finances, AP reports.
Greece exited its third successive international bailout in August but had committed to creditors’ demands for more austerity measures in 2019 and 2020, including pension cuts.