Tax cuts expected to be announced by Greek PM

The prime minister of Greece is expected to announce tax cuts for companies and pro-business reforms to ease the nation's fiscal target from 2021.

Conservative premier Kyriakos Mitsotakis replaced his leftist predecessor Alexis Tsipras two months ago on pledges to revamp Greece's economy a year after the end of its third international bailout.

Greece remains under financial surveillance to ensure it meets its fiscal targets.

Mitsotakis says his government is confident of achieving a primary budget surplus – which excludes debt-servicing costs -- of 3.5% of GDP in 2019 and 2020, as agreed with European lenders.