Greek State Budget has a huge gap of €6.886 billion in the January-November period, mainly due to the sharp decline of revenue, but also because of the major excess in expenditure.
According to the preliminary data available for the execution of the State Budget for the eleven months January – November 2011, on a fiscal basis, the deficit amounts to €20,516 million compared to the new target of €21,063 million set in the voted Budget for 2012. During the same period in 2010, the State Budget deficit amounted to €19,516 million.
Total State Budget revenues (Ordinary and Investment Budget) are €192 million below the new target, but total expenditures (Ordinary and Public Investment Budget) compensated for this revenue shortfall by amounting to €739 million lower than the new target.
(source: capital)
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