Bloomberg News

Greek 2011, 2012 Targets Agreed With Troika, Ministry Says

October 02, 2011

Oct. 2 (Bloomberg) -- Greece will take an additional 6.6 billion euros in deficit-cutting measures this year and next year to ensure new budget targets are met, the Athens-based Finance Ministry said in an e-mailed statement.

“As agreed with the troika, a combined approach to the goals for 2011 and 2012 in the framework of the medium-term fiscal strategy plan will ensure the achievement of the fiscal goal for 2012 of an deficit of 6.8 percent of GDP, or 14.7 billion euros,” according to the statement. The measures will mean a primary surplus of 3.2 billion euros in 2012, the statement said.

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