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Budget Deficit May Exceed 10.5%

Hellenic Statistical Authority (ELSTAT) may report that budget deficit in 2010 exceeded 10.5% of Gross Domestic Product, according to unconfirmed sources, while Ministry of Finance estimates deficit to range between 9.8% and 10.1% of GDP.
Government had targeted to reduce 2010 deficit to 9.4% of GDP. The gap should be covered by additional revenue measures, which may reach €2.7b.
Ministry of Finance supports ELSTAT’s independence, and neither confirms nor denies the rumors.

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