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Athens News Agency: News in English, 10-08-20
CONTENTS
[01] Reduced state budget deficit
[01] Reduced state budget deficit
The state budget deficit fell 39.7 percent during the period
January-July 2010 in comparison with the same period in 2009, vis-à-vis a stated annual target 39.5 percent.
According to data released on Friday, between Jan-Jul 2010 the deficit
reached 12.10 billion euros while in the correspondent period of 2009
it was 20.05 billion euros. The fiscal consolidation for the first
seven months of 2010 was achieved via spending cuts and revenue
increases. Furthermore, the data does not fully reflect all the fiscal
measures included in the government's austerity programme for 2010,
namely, the second increase in the VAT rate by 2 percentage points,
applied as of July 1, 2010.
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