Deficit of 2012 to be 0.5 pct of GDP less than forecast
By Sotiris Nikas
The 2012 budget will close “slightly better” than expected, according to a top Finance Ministry official, which creates a small cushion for this year and sends a message to the country’s creditors that Greece is on the right path.
According to sources, the state budget will show a deficit that is smaller than forecast by about 0.5 percent of gross domestic product, or almost 1 billion euros. A clearer picture will emerge in the second half of January, while the financial year will conclude at end-February when the last tax revenues for 2012 will be cashed in.
This positive development is exclusively attributed to the considerable drop in state spending, as revenues are actually smaller than in 2011. Nevertheless there are still some issues regarding the expenditure side, which mostly concern covering the needs of social security funds.
A 34-year-old man charged with setting fire to a store in central Athens last week has told police that he is part of a citizens’ patrol operating in downtown Kypseli and Aghios Panteleimona...
A contentious anti-racism bill appeared to be causing an ever-widening rift within the fragile coalition government on Monday, as the two junior partners, PASOK and Democratic Left, pushed f...
Germany's Bjoern Otto recorded the world's leading performance in the men's pole vault at the Athens Street Pole Vault event that took place at Zappio, in central Athens, on Saturday afterno...
PAS Giannina upset PAOK at Thessaloniki on Sunday to take the lead at the Super League play-offs, while Asteras Tripolis rebounded from its loss at Ioannina in midweek to defeat Atromitos at...
A true giant of modern thought, Ludwig Wittgenstein believed that all problems in philosophy arise from the misguided use of language. Although this opinion, put forward in his early writing...
Certain people have created a monster and now, when they observe it, they wonder what it is. Golden Dawn, along with all its slogans and behavior, is the work of many, not one single person....
