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Athens News Agency: News in English, 06-05-21

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

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

CONTENTS

  • [01] Finance and economy minister defends mild economic adjustment policy

  • [01] Finance and economy minister defends mild economic adjustment policy

    Finance and Economy Minister George Alogoskoufis, speaking in an interview with the Sunday newspaper "Ethnos tis Kyriakis", defended the policy of mild economic adjustment and explained the policy of restricting expenditure increases. He pointed out that saving 1.7-1.9 billion euros in 2007 is a main target for the government's economic staff.

    "We already have tangible results. The deficit has been decreased to 4.5 percent of GDP in 2005 and this year it will fall below 3 percent," the finance minister said.

    Alogoskoufis further said that "Our target is to maintain these percentages and we shall do this in an environment of development, as well as of promoting social priorities."

    Lastly, Alogoskoufis said that "the strategy of mild adjustment, which was disputed by many but the results have vindicated it absolutely, will continue. The aim is to restrict the increase in expenditures even more and this will take place in an environment of development for the rest of the economy. You do not cut back expenditures, but you do not increase expenditures."


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