Greece’s central budget deficit shrank 37 percent last year, beating a target to reduce the shortfall by 33 percent, the Finance Ministry said today.
The 2010 deficit was reduced to 19.5 billion euros ($26.2 billion), from 30.9 billion euros in 2009, the Athens-based ministry said in an e-mailed statement. The figures are broadly in line with preliminary data released on Jan. 10.
Ordinary budget expenditure declined 9.1 percent to 65.2 billion euros from 71.8 billion euros in 2009, with primary expenditure decreasing 10.9 percent to 51.7 billion euros. Ordinary revenue increased to 51.2 billion euros from 48.4 billion euros in 2009, a 5.5 percent increase.
Beating the target boosts Greek hopes that it succeeded in cutting the 2010 general budget deficit, which includes outlays by state-owned institutions and companies, to 9.4 percent of gross domestic product.
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