Greece’s 2016 budget sees milder economic contraction

20 November 2015
64 Views

Greece’s final 2016 budget plan projects a milder contraction than previously forecast with the economy expected to shrink by 0.7 percent next year.

The budget, submitted to parliament on Friday, maintained a primary surplus target of 0.5 percent of gross domestic product in 2016 and projected privatisation revenues of 1.9 billion euros, lower than a 3.7 billion euro target under its bailout.

The leftwing government expects to tap bond markets in the second half of 2016, the budget plan said.

Public debt is projected to reach 187.8 percent of GDP in 2016 from 180.2 percent this year.

Reuters

You may be interested

Naxos Tavern Owner Finds Clever Way to Protest Against Heavy Taxes, Austerity
FINANCE
shares34 views
FINANCE
shares34 views

Naxos Tavern Owner Finds Clever Way to Protest Against Heavy Taxes, Austerity

Panos - Aug 21, 2017

A tavern owner on Naxos found an inventive way to protest against the heavy taxes and overall austerity imposed upon…

Russia Prepared to Supply Gas to Both Greece, Bulgaria if Necessary
FINANCE
shares46 views
FINANCE
shares46 views

Russia Prepared to Supply Gas to Both Greece, Bulgaria if Necessary

Panos - Aug 21, 2017

Russia is prepared to supply gas from the TurkStream pipeline to both Greece and Bulgaria if necessary, Russian Energy Minister…

10 US seamen missing after navy ship collides with merchant ship
DEFENCE
shares52 views
DEFENCE
shares52 views

10 US seamen missing after navy ship collides with merchant ship

Panos - Aug 21, 2017

Ten sailors were missing after a Navy destroyer collided with a merchant ship east of the Singapore and Malacca Straits,…

Leave a Comment

Your email address will not be published.