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Video: Greece cuts forecast for budget surplus

11-01-2012 10:35 BJT

Greece more than halved its forecast for budget surplus before debt servicing in 2013 on Wednesday. This is putting further gloom on the country’s future, as the many rounds of austerity are deepening the recession.

The news came as the government was seeking support in parliament for a deal with international lenders on new austerity. Greece is targeting a primary surplus of 0.4 percent of GDP, below the previous target of 1.1 percent.

Meanwhile, eurozone finance ministers are holding a conference call as we speak, to discuss the progress made in negotiations of the revised Greek bailout. Representatives of international lenders are talking with the Greek government on reforms that the country has to implement to get further emergency credit.



Editor:James |Source:

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