Greeting 2012 means new measures that’ll save us 5 billion euros

The sad story of the Greek 2012 state budget dictates new, 5-billion-euro measures for the coming year, plus 2.1 billion euros' worth of extra ones for the months before the end of 2011.

All of the above are according to the draft plan of the state budget that was tabled in parliament earlier on Monday.

The new austerity cuts will focus yet again on wages and pensions and indirectly on the tax on heating oil.

Finally, the figures proved that the deficit stands at 8.5% and not at 7.9% of the GDP for 2011 and if the citizens of Greece don’t pay their taxes, it might even end up being higher by 0.5%.

The recession is expected to be a deep one for the fourth consecutive year, while the development rate will also remain negative in 2012 at -2.5% mainly because of the fiscal turmoil in the country.

According to the government, Greece will find its normal development pace in 2013.

Meanwhile, Greeks will see their wallets empty and unemployment skyrocket at 16.4% in the coming year, as layoffs are to prevail in the social reality. The export of goods, however, is expected to go up by 6.4%, while imports will drop by 2.8%. As for the Harmonised Index of Consumer Prices (HICP), figures show it will rise by 0, 6% in 2012.