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Greek fiscal deficit fell to 6.0 pct of GDP in 201

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Greece’s fiscal deficit fell to 6.0 pct of GDP, or 11.6 billion euros, in 2012, down from a budget provision of a deficit of 6.6 pct of GDP, the Hellenic Statistical Authority said on Wednesday.

The statistics service, in a report, however, said that the country’s fiscal deficit rose to 10 pct of GDP, or 19.3 billion euros, if the capital offered for the support of the domestic banking system (4.0 pct of GDP) were included.

Finance ministry officials said the country’s fiscal deficit could fall further to 5.6 pct of GDP after completion of all technical controls on the figures.

The country’s fiscal deficit will have two differed figures, one without the capital support to banks and another with them. Similarly, in 2013, the budget will include the sums offered by Hellenic Financial Stability Fund for the recapitalization of Greek banks.

Source: ATHENS NEWS AGENCY

Last Updated Thursday, 11 April 2013
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