Vladimír Urbánek (Kurzy.cz)
Markets  |  November 12, 2012 09:46:27

The Greek parliament approved an austerity budget for next year

Greece is again on another piece moved to another part of obtaining international financial aid, when the Greek parliament after the beginning of the week approved the first plan of austerity measures on Sunday voted to form the state budget for next year, in which they were proposed measures already taken into account.

Adoption of the budget voted 167 of 300 legislators, 128 were against and 4 abstained.

The approved budget for next year is a deficit of 5.2% of GDP and a six-year contraction. The main objective of the budget should be to restore the trust of European and international lenders. Budget GDP expected to decline next year by 4.5% compared to a decline of 3.8% this year. Government debt will reach next year's level of 189% of GDP respectively, compared to 346.2 mld.EUR 176% this year.

The final knockdown further assistance benefit of 31.5 mld.EUR begin today one of the finance ministers of the euro area.
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