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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.