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Athens News Agency: News in English, 11-04-26

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] All necessary measures to achieve targets
  • [02] Trade deficit 29.7% down 

  • [01] All necessary measures to achieve targets

    (ANA-MPA)-The Greek government remains dedicated to the targets of its Economic Policy Program and will take all the necessary measures to achieve them, the finance ministry said on Tuesday after an upward revision of the country's fiscal (government) deficit for 2010 to 10.5 percent of GDP from an initial forecast of 9.4 percent, which it attributed mainly to an anticipated repercussion of recession and shortfall in tax revenues.

    In an announcement, the finance ministry said the divergence between Eurostat's revised figure (10.5 percent) and the initial forecast contained in the 2011 state budget (9.4 percent) for the 2010 general government deficit was due chiefly to a larger than anticipated effect of recession on GDP in 2010 and decline in tax revenues.(ANA-MPA)

    According to the Eurostat report for the entire European Union released on Tuesday in Brussels, the ministry continued, Greece has the second largest deficit in the EU after Ireland (32.4 percent of GDP), and was very close to that of the UK (10.4 percent, the third highest deficit), followed by Spain (9.2 percent) and Portugal (9.1).(ANA-MPA)

    Greece, however, also achieved the biggest deficit reduction ever in a Euro Area country in a single year (10.5 percent of GDP from 15.6 percent in 2009). the ministry pointed out.(ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form


    [02] Trade deficit 29.7% down

    Greece's balance of trade deficit, not calculating fuels, fell by 29.7 percent in February 2011 and came to 1,463 million euros from 2,082 million euro in February 2010, according to figures released on Tuesday by Greece's independent statistical authority ELSTAT.

    For the two-month January-February 2011 period, the trade deficit declined 34.1 percent and came to 2,781 million euro, down from 4,218 million euro in the same period last year.

    The decline of the trade deficit in February was the result of a 14.8 percent drop in imports-arrivals and a 15.38 percent increase in exports-dispatches. Over the two months, the decline in imports was 17 percent while the increase in exports, not counting fuels, was 20.2 percent.

    Caption: Container terminal (EPA)

    . .

    More details on the subscriber's page of ANA-MPA | Subscription request form

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