Greek Finance Minister Evangelos Venizelos scaled back a target for raising revenue to pay down debt from state-asset sales amid slumping stock values and delays in implementing the program.

Greece will raise 1.4 billion euros ($1.9 billion) in September and meet a third-quarter target of 1.7 billion euros next month, Venizelos said in a speech in Washington last week after attending the annual meetings of the International Monetary Fund and the World Bank, according to a transcript of his comments. The state will have raised 4 billion euros by the end of the year, he said, less than a target of 5 billion euros.

Greece has yet to secure a second international bailout amid questions about its ability to satisfy the terms for aid.

Source: Bloomberg