Greece is on the right track towards creating primary budget surpluses, and focusing primarily on structural reforms, economic recovery and boosting competitiveness, Finance Minister George Papaconstantinou said on Monday, ahead of a Eurogroup meeting here.

Speaking to reporters, the Greek minister also referred to the unprecedented reduction of the Greek fiscal deficit by six percentage points last year, while he expressed hope that progress will be made towards agreeing on a total package to bring stability in the Eurozone and to resolve current problems.

EU Commissioner for Economic Affairs Olli Rehn, told reporters that the Eurogroup meeting will discuss the Commission’s proposals aimed at strengthening competitiveness in the euro zone.