Home News Greek fiscal position by August better than expected

Greek fiscal position by August better than expected

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Griechenland_04 - (c) Polya Lesova ATHENS (Dow Jones) – The Greek government finances have evolved since the beginning of this year, better than forecast by the government. (Photo : Polya Lesova )

As the Finance Ministry in Athens on Friday announced that the budget deficit fell from January to August over the previous year by 32.2 % to EUR 14.49 billion and was thus well within the budget of the government, in order for the same period fell 26.5 % targeted.
Target for the full year , however, is to reduce the deficit by 39.5 %, while government revenues lagged far behind expectations. In the first eight months , the net revenue compared to 2009 increased only by 3.3 % and remained so far away from the intended full-year increase of 13.7%. On the expenditure side , the situation is a decline by 7.7 % against a target of minus 5.5% a lot better .
As was also announced on Friday that unemployment has fallen markedly in Greece. According to official statistics , the unemployment rate in June to 11.6 % after 12.0% fell in May. Thus it was less still well above last year’s level of 8.6 %.
As the statistical agency further informed that the number of employed fell to 4.42 million. A year earlier were 4.57 million people registered as employed. Especially among young people during the economic crisis , unemployment has risen sharply.

Website: www.statistics.gr
– By Nick Skrekas , Dow Jones Newswires
+49 ( 0 ) 69 29 725 300, konjunktur.de @ dowjones.com

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