BRUSSELS (AFP) -- Greece has "delivered" on its economic reform pledges and a long-awaited report from its international creditors is "positive", Jean-Claude Juncker, who heads the Eurogroup of finance ministers, said Monday.

The payment of a key tranche of international aid to stave off bankruptcy in Greece has frozen since June pending judgement on its reform programme by the so-called "troika" of creditors, the European Union, European Central Bank and International Monetary Fund.

Arriving for talks between the 17 eurozone finance ministers to be held later Monday, Juncker said they had finally received the report Sunday night and it "is positive in its fundamental tone because the Greeks really delivered. Now it is for us to deliver."

The Luxembourg premier said a new austerity package adopted by Greece Wednesday and a cost-cutting 2013 budget approved by parliament late Sunday were "very ambitious" and "fulfills our wishlist nearly completely."

"Greece is accomplishing step by step what we expected," he added.

Juncker said the ministers would discuss the troika report in detail but would make "no definitive decision today" on the release of a 31.5 billion-euro tranche from a second international bailout of Greece needed to stave off possible bankruptcy.

He said he believed the general feeling would be to organise the disbursement "in the best way possible" and for the ministers to agree a calendar.

"But there remain some open questions concerning Greece`s debt sustainability and the prolongation of the adjustment path," he said.

"Do we give them two more years or not? I am in favour of doing that."

But Juncker admitted that if there were a decision to give Athens a two-year extension to 2016 to bring its public deficit under 3.0 percent of GDP and reduce its debt mountain "from that emerges financing questions, if not a gap".

The gap has been estimated at around 30 billion euros, a substantial sum as bailout-weary nations such as Germany, Finland and the Netherlands grow increasingly reluctant to rescue weaker euro states.

Any decision to extend Greece's deadline would also require parliamentary approval in Germany, the Netherlands and Slovakia.

Monday's talks come after the Greek parliament, despite noisy protests, agreed a tough cost-cutting 2013 budget that further slashes pensions and wages, the latest hurdle cleared by Athens to win foreign aid so it can stay afloat.

Last week lawmakers also adopted a new austerity package that drew 70,000 angry demonstrators into the streets against police.

Greece is facing the worst recession seen by a European nation in modern history. Debt is likely to rise to 189 percent of GDP next year, almost double the country's national output, with growth tipped to shrink by 4.5 percent.

Greek Prime Minister Antonis Samaras has said Athens could run out of money by November 16 failing the release of the latest aid.

On Friday however the country announced it would sell short-term bills the same day, seeking to cover maturing debt.