Greece targets 4.2 deficit next year in draft budget
October 1, 2012 15:33
ATHENS - Greece will seek to shrink its fiscal deficit to 4.2 percent of national output (GDP) next year from a projected 6.6 percent in 2012, with its economy forecast to contract by 3.8 percent, according to the country's draft budget released on Monday.
The draft budget targets a primary surplus of 1.1 percent of GDP next year with unemployment expected to hit 24.7 percent.
Public debt is projected to reach 179.3 percent of GDP.