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Greece's parliament approves 2013 budget  Join our daily free Newsletter

MENAFN - 12/11/2012

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(MENAFN) The Greek parliament endorsed the 2013 budget that includes additional austerity measures, reported Xinhua News.

The budget was approved by 167 lawmakers; whereas 128 rejected it and 4 cast blank votes.

The vote followed the approval of a new package of austerity and reform measures of USD17.1 billion for 2013-2014, last week.

The endorsement paves the way for Athens to secure new tranch of bailout from its international creditors, including the European Union (EU) and the International Monetary Fund (IMF).

According to Greek Prime Minister, Antonis Samaras, the country could run out of cash reserves on the forthcoming Friday without the USD40.4 billion payment.

It is worth noting that Greece will hold a new treasury bills auction on Tuesday as part of its monthly program of T-bills sales, so as to cover its immediate financing requirements until the issue will be resolved.

 






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