Greek deficit

Greece’s state budget deficit in the first eight months of 2012 beat the budget target and in August the country recorded a surplus for the first time this year. The gap, which excludes outlays by state-controlled enterprises, was 12.4 billion...

Debt-crippled Greece's budget deficit is expected to hit 9.6 percent of economic output in 2011, about half a percentage point above target, the development minister admitted Wednesday. Michalis Chryssochoidis said that an increase in the use of European Union structural...

While Europe promotes budgetary discipline, Greek deficit soars again. The constant requirements for pension payments and other obligations, and the estimate that the property tax will raise only €1 billion, instead of €1.6 billion, cause jitters to the Greek...

New cuts in pensions are being projected for 2012, since insurance funds are facing a tremendous deficit of 4.5 billion Euros for 2011. Labour Minister George Koutroumanis did not hide any aspect of the dramatic situation the Greek people are...