Athens News Agency: News in English, 05-12-01

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Revenue-collection drive starting to pay off, finmin says

[01] Revenue-collection drive starting to pay off, finmin says

"There is a discernible improvement in state revenue according to an initial processing of data," the minister told parliament's economics committee in a discussion of the 2006 budget, which is due for vote in the house before Christmas.

In November, revenue collected by tax offices and customs rose by 9.1%, bringing the average for 11-month 2005 to 5.4%, he said.

"The 2005 budget anticipated an increase of 5.0%, and, if the current trend is maintained, then we will top the revenue target, and the deficit is likely to be lower than 4.3%," the minister noted.

Income from Value Added Tax in November grew by 11.6%, and in October by 9.3%.

"These trends support budgetary forecasts. The improvement in public revenue is discernible," Alogoskoufis said.

The budget for 2006 includes a decline in the fiscal deficit to 2.6% of gross domestic product, a further decline in the public debt, and a strengthening of development and social cohesion.

"At the same time, the fiscal problems we inherited remain major. And the basic reason for these problems, which grew and took root under (the previous) PASOK (government), require a steady and consistent approach," the minister stated.

"The public debt has the highest ratio to GDP in the whole of the eurozone, and tax evasion is also high. The government is determined to apply the law and make use of opportunities afforded by new technologies to tackle tax evasion," he added.

Finally, Alogoskoufis called on opposition parties to back the government's drive to boost revenue and reduce tax evasion.

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