Greece met fiscal targets for 2012, producing 434mln surplus, Finance Ministry says

Greece met its fiscal targets for 2012, the Finance Ministry said on Monday after releasing the general government data.

The year closed with a primary cash surplus of 434 million euros, compared to a deficit of 3.5 billion euros in 2011.

The general government deficit was at 12.9 billion euros, or 6.6 percent of GDP at the end of 2012.

This represents a 34.6 percent year-on-year reduction.

In 2011, the deficit reached 19.7 billion euros, or 9.4 percent of GDP.