Tags: Greek | Deficit | GDP

Greek Prime Minister: 2011 Deficit to Reach 9 Percent of GDP

Monday, 14 Nov 2011 01:35 PM

New Greek Prime Minister Lucas Papademos says the country's budget deficit will reach 9 percent of gross domestic product this year, higher than earlier targets.

Papademos was sworn in last week to head a 15-week coalition government backed by the outgoing Socialists and rival conservatives, created to secure the approval of a new massive bailout worth 130 billion euros ($177.6 billion) from other eurozone countries and the International Monetary Fund.

Papademos presented an outline of his policies in parliament on Monday, promising faster structural reforms and declaring that Greece has already met requirements to receive the next 8 billion euro ($10.9 billion) rescue loan installment, vital to avoid bankruptcy.

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Economy
New Greek Prime Minister Lucas Papademos says the country's budget deficit will reach 9 percent of gross domestic product this year, higher than earlier targets.Papademos was sworn in last week to head a 15-week coalition government backed by the outgoing Socialists and...
Greek,Deficit,GDP
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2011-35-14
Monday, 14 Nov 2011 01:35 PM
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