Greece 2010 public deficit at 9.4 percent of GDP

ATHENS — Greece estimated on Monday that following an EU revision of its accounts the country’s 2010 public deficit would reach 9.4 percent of output, breaching the 8.1-percent condition behind a bailout.

By (AFP)

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Published: Mon 15 Nov 2010, 5:35 PM

Last updated: Mon 6 Apr 2015, 11:26 AM

The finance ministry said however that Greece had reduced its deficit by a greater percentage of gross domestic product than it had pledged as part of its 110-billion-euro (150-billion-dollar) bailout from the European Union and International Monetary Fund in May.

“Despite the revision of the figures, the 2010 deficit reduction is greater than was initially planned, equivalent to six percentage points of GDP when the objective was to get 5.5 percent,” said the ministry.

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