Bloomberg News

Greek 2012 Budget Aims at Deficit Below 6% of GDP, NET Says

October 02, 2011

Oct. 2 (Bloomberg) -- Greece’s budget for next year aims at a deficit as a percentage of gross domestic product of between 5.7 percent and 5.9 percent, state-run NET Radio reported, without saying how it got the information.

The budget will target a primary surplus of 2 billion euros and debt is seen stabilizing at around 160 percent of GDP, the broadcaster said. The economy will shrink at a slower pace than the 5.5 percent forecast for this year, contracting for a fourth year in a row, NET said.

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