Griekenland presenteert plan om tekorten terug te dringen (en)
The Greek cabinet has approved an ambitious plan to bring the country's deficit to within EU i limits by 2012.
"We will attain our goals by any means possible," finance minister George Papaconstantinou told a news conference on Thursday (14 January), with the measures set to be presented to the European Commission on Friday.
Under the plan, the newly elected socialist government aims to cut the deficit to 8.7 percent of GDP this year, 5.6 percent next year and below 3 percent by 2012.
"It is our commitment to leave behind the giant deficits of the past," said Prime Minister George Papandreou.
The plan is based on the expectation that Greece will return to growth next year of about 1.5 percent of GDP and 1.9 percent in 2012, with some analysts sceptical the southeastern EU economy can achieve this.
The Greek administration has been under great pressure to return its public finances to good health after it announced last autumn that its deficit would exceed 12 percent of GDP, almost four times higher than previously forecast.
European Central Bank president Jean-Claude Trichet i indicated on Thursday that the bank would not change its lending rules to support Greece. However he also described as "absurd" speculation that Greece would be forced to leave the euro area.
Statistics
Greece has received strong criticism from the EU commission and the member states over the unreliability of its statistical data, with EU finance ministers set to continue the pressure for improvement when they meet in Brussels next Tuesday.
A draft of the meeting's minutes, seen by AFP, suggests ministers will push Athens to improve "outstanding methodological issues and technical procedures" in its accounting.
They are also set to call on the administration to reform "governance and institutional structures" identified by the commission.
A scathing report published by the EU executive this week called Greece's economic statistics "unreliable".
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