NEWS

Parliament approves 2016 budget with full support from coalition MPs

parliament-approves-2016-budget-with-full-support-from-coalition-mps

Greek Parliament passed the 2016 budget in the early hours of Sunday morning without any surprises.

All 153 coalition MPs voted in favor of the economic plan while 145 lawmakers opposed it and two deputies were absent. The vote concluded at around 1.30 a.m. on Sunday following five days of debate in the House.

The budget forecasts a contraction of 0.7 percent next year. It maintains a primary surplus target of 0.5 percent of GDP in 2016 and projected privatisation revenues of 1.9 billion euros.

Public debt is projected to reach 187.8 percent of GDP in 2016 from 180.2 percent this year.