Greece to announce 2015's budget
(MENAFN) The Greek parliament approved a budget for 2015 which was a victory for politicians ready to celebrate the glimmer of returned growth over warnings from international creditors that such a move may be premature, Gulf News reported.
The budget hits 2.9 percent growth and a deficit of 0.2 percent, passed by 155 votes and 134 against after a late-night session.
The country's "troika" of creditors " the European Commission, European Central Bank, and International Monetary Fund " had regarded those estimates as overly optimistic for an economy that declined 25 percent since 2008, and urged Athens to hold the line.
The Greek creditors have said that the country's deficit will be closer to 3.0 percent of GDP, and warned against proposed tax cuts when Athens will need to find an additional USD3.69 billion in revenue to meet its financial targets.
The budget hits 2.9 percent growth and a deficit of 0.2 percent, passed by 155 votes and 134 against after a late-night session.
The country's "troika" of creditors " the European Commission, European Central Bank, and International Monetary Fund " had regarded those estimates as overly optimistic for an economy that declined 25 percent since 2008, and urged Athens to hold the line.
The Greek creditors have said that the country's deficit will be closer to 3.0 percent of GDP, and warned against proposed tax cuts when Athens will need to find an additional USD3.69 billion in revenue to meet its financial targets.
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