Wednesday, October 31, 2012

Greece revises debt forecasts up in draft budget

FILE - In this Monday, Oct. 15, 2012 file photo shows Greece's Prime Minister Antonis Samaras delivers a speech in a forum of International Herald Tribune in Athens. Samaras said on Tuesday, Oct. 30, 2012 that the government had essentially ended negotiations on new austerity measures and warned of "chaos" if the reforms are not passed. (AP Photo/Thanassis Stavrakis, File)

FILE - In this Monday, Oct. 15, 2012 file photo shows Greece's Prime Minister Antonis Samaras delivers a speech in a forum of International Herald Tribune in Athens. Samaras said on Tuesday, Oct. 30, 2012 that the government had essentially ended negotiations on new austerity measures and warned of "chaos" if the reforms are not passed. (AP Photo/Thanassis Stavrakis, File)

(AP) ? Greece's general government debt is projected to stand at 189.1 percent of gross domestic product in 2013, figures in next year's revised budget show.

The budget submitted to Parliament on Wednesday shows the general government deficit is predicted at 5.2 percent of GDP, compared with 4.2 percent predicted in the preliminary draft of the budget that had been submitted at the start of the month.

Finance Minister Yannis Stournaras submitted the revised figures just before lawmakers began voting on a privatization bill that will test the country's fractious governing coalition.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-10-31-Greece-Financial%20Crisis/id-0a42cf6c4c7a49c7b908280168c0f084

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