ATHENS (MNI) – Greece’s cash deficit rose to 18.605 billion euros
in the eight months through August, up from a deficit of E15.676 billion
in the same period of 2010, the Bank of Greece said in a statement.
During the same period, the revenue dipped to E30 billion from 32.8
billion in the first eight months of 2010 and spending rose to E47.8
billion euros from 43.5 billion in the January – August 2010 period.
Earlier today, the Greek Finance Ministry published preliminary
figures showing that the country’s January-August 2011 budget gap stood
at E18.1 billion, compared with 14.8 billion in the same period of 2010.
The Finance Ministry statement said that the January-August 2011 budget
gap was narrower than a previous target of E18.9 billion for that
period.
Noted, that the finance ministry’s figures show the state budget
deficit and do not include local government and social security
spending. However, the so called troika — officials from the EU, ECB
and IMF — reviews the Greek economic progress only on figures which
include all spending and are in accordance with the EU accounting
standards.
–Athens bureau; a_papamiltiadou@hotmail.com
[TOPICS: M$Y$$$,M$$CR$,MT$$$$,MGX$$$,M$X$$$]
