Greece Says It Met Budget Targets in 2012
Greece's Finance Ministry has stated that the country has narrowed its public deficit to 6.6 per cent of output in 2012, meeting targets pledged to EU-IMF creditors.
"General government data confirms that the government has met its fiscal targets for 2012," Deputy Finance Minister Christos Staikouras said in a statement on Monday, as cited by international media.
The general government deficit in January through December 2012 decreased to EUR12.9 B, in line with the country's financial targets, compared with EUR19.7 B in 2011.
The primary budget surplus on a cash basis was EUR434 M in 2012, versus a EUR3.5 B deficit the year before.
"These positive developments in the implementation of the budget indicate that the fiscal consolidation, adaptation and discipline efforts are paying off, creating the necessary conditions for the stabilization and gradual restart the economy," Staikouras has noted.
- » Romanian PM ousted in no-confidence vote
- » Justice minister Francois Bayrou is quitting French government
- » French Police Found Champs Elysees Attacker's Weapons
- » Premier Filip on a Working Visit to Brussels
- » Merkel Ready to Consider Macron Eurozone Reform Ideas
- » Bulgarian Ambassador to London: 'Attack at Finsbury Park Mosque is Defined as Potential Terrorist Attack'