Greek Deficit May Have Narrowed to 9.1% of GDP, Imerisia Says

Greece’s budget deficit may have narrowed to 9.1 percent of gross domestic product last year, Imerisia said, without citing anyone.

The 2011 deficit is expected to close at between 9.1 percent and 9.2 percent of GDP, the Athens-based newspaper said.

Revenue from a property tax imposed though electricity bills, which could reach 2.3 billion euros ($3 billion) compared with an initial forecast of 1.8 billion euros, and spending cuts, especially at hospitals, helped narrow the fiscal gap, the newspaper said.

Greece’s 2012 budget, approved by lawmakers in December, forecast the 2011 budget deficit figure at 9 percent of GDP from 10.6 percent the year earlier.

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net