Greek minister: Don't worry about our next debt payment

Uncertainty about Greece paying its debts may move markets again this summer. But a top Greek official said Friday he is not worried about the cash-strapped nation's ability to meet its demands.

Greece will need additional aid to cover 3.5 billion euros ($3.96 billion) in debt payments due in July, according to the Financial Times. Greek Minister of State Nikos Pappas told CNBC he is "confident" Greece will reach an agreement at a May 24 meeting of eurozone finance ministers.

"We are very close to concluding the agreement with our partners," Pappas told CNBC's "Power Lunch."

Nikos Pappas, Greece's minister of state
Chris Ratcliffe | Bloomberg | Getty Images
Nikos Pappas, Greece's minister of state

Last summer, Greece and its creditors agreed to an 86 billion euro ($97.27 billion) bailout package contingent on certain reforms. Many in Greece continue to fight some of the austerity provisions of the deal, including recently passed pension and income tax reforms.

Pappas said the Greek government has taken significant steps to increase stability and make the country a better environment for business. He added Greece has "achieved much more than anyone was expecting" in fiscal reforms.

Pappas also addressed frustration with the reforms, which largely go against the platform Prime Minister Alexis Tsipras previously touted. He said "any agreement is a compromise."