New measures, between 4-5 billion, to "plug the holes" in the budget
The marathon meeting between Finance Minister Evangelos Venizelos and the Troika held today...
The amount of additional assistance is estimated to reach or even exceed the amount of 4 to 5 billion euros. By reaching this agreement, the auditors’ work is seemingly complete. The auditors may make announcements to the press before leaving the country.
Reportedly, the new measures will lead to a primary surplus of 3.2 billion or 1.5% of the GDP in 2012, 8.5 billion or 3.6% of the GDP in 2013, and 15.6 billion on 6.4% of the GDP in 2013.
The auditors do not foresee further recession of over 2.5% in the budget draft for 2012, placing the rate of reduction of the GDP at 3% in the least…
The Troika is likely to have another meeting with government officials, although the main work for the specification of new measures will now be undertaken by the low-level technical officers.
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