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Athens News Agency: News in English, 05-07-07

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Greece determined to cut fiscal deficit below 2.0 pct in 2006, FinMin says

  • [01] Greece determined to cut fiscal deficit below 2.0 pct in 2006, FinMin says

    The Greek government is determined to cut the country‚s budget deficit below 3.0 percent of GDP in 2006, Economy and Finance Minister George Alogoskoufis said on Thursday.

    Speaking to reporters, during a joint new conference with OECD‚s chief economist Jean-Philippe Cotis to present the Organisation‚s report on the outlook of the Greek economy in 2005, Alogoskoufis said the government has already taken measures to contain spending and boost budget revenues.

    The Greek minister stressed the government would continue, in the coming years, its efforts towards fiscal restructuring at a milder pace. ?We will continue taking measures with the least possible side-effects to citizens,? he noted adding that the government‚s intention was to promote structural changes in the economy aimed to boost competitiveness, to contain bureaucracy and to achieve a more effective functioning of labour markets.

    The government‚s main policy choice to promote these changes is dialogue and consensus, Alogoskoufis said. He added that according to OECD‚s estimates, economic reforms could boost the country‚s GDP by 5-7 percentage points in the coming years and ensure a long-term rise in exports of up to 40 percent.

    He underlined government measures so far, such as reducing direct taxation, simplifying the tax system, a new investment law and a draft legislation on co-funded projects. The government is also promoting expanded shopping hours and moves towards liberalizing the country‚s energy market.


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