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Greek public debt increases by 6.57 billion euros in second quarter 2010

08-20-2010 10:35 BJT

ATHENS, Aug. 19 (Xinhua) -- Greece's public debt increased by 6. 57 billion euros (8.45 billion U.S. dollars) in the second quarter of 2010 compared to the previous quarter, according to a statement from the Greek Finance Ministry on Thursday.

The debt-ridden country's current debt stands at 316.9 billion euros (407.75 billion dollars), the General Accountants Office estimated.

The total central government debt in the first half of this year was 18.43 billion euros (23.71 billion dollars), compared with 22.9 billion euros (29.46 billion dollars) in the same period in 2009, said the government statement.

"The development of the debt is in line with the framework of the economic policy we have set," said the statement.

Earlier on Thursday, the European Commission cleared the way for the release of the second tranche of a 9-billion-euro (11.58 billion dollars) financial aid to Athens from Brussels and the International Monetary Fund (IMF) this September.

In May, European partners and the IMF agreed to grant Greece a 110-billion-euro (141.53 billion dollars) aid package over a three- year period to help the eurozone member country overcome a severe debt crisis and slash its budget deficit from 13.6 percent of GDP to less than three percent by 2014.

According to the progress report written by a group of EU-IMF auditors this summer, Greece is on the right track to put its finances in order, but should deepen and speed up structural reforms.

Editor:Jin Lin |Source: Xinhua

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