05 October, 2010
 Finance Minister George Papaconstantinou submitted yesterday to the Hellenic Parliament the 2011 draft budget, which provides for the deficit to drop even lower than previously projected - at a 7% deficit rate below the 7.6% target predicted in the economic adjustment programme.
This deficit shrinkage is based on a projected revenues increase by 6.9% and expected decreases in expenditures by 5.9%. The draft budget also foresees that this year’s recession will reach 4% but will drop to 2.6 % next year, while the economy is expected to return to growth in 2012. " The people’s sacrifices will not be in vain," said Papaconstantinou, calling the draft budget " one major step towards putting the country’s fiscal situation in order." Ministry of Finance: Draft Budget 2011 ; Kathimerini Daily: Ambitious deficit target included in next year’s draft budget, at 7% of GDPSource: GREEK NEWS AGENDA issued by the Secretariat Genera
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