Greek Budget Policy

In January 2009, the Ministry of Economy and Finance published the revised stability program. To the budget deficit, the government has made various proposals. These include reducing the number of officials and include reducing travel by officials.

From 2004 to 2007 while the Greek budget deficit below 3 percent. In February 2009, the European Commission presented a proposal to Greece under the excessive deficit procedure by the EU to drop. Eurostat noted that in 2007 the deficit is in reality above the 3 percent and that in 2008 the limit was exceeded. Eurostat is expected for 2009 and 2010 re deficits of 3.7 percent and 4.2 percent.

Under the Stability and Growth Programme, the ratio of debt to GDP and more than 60 percent. The forecast for Greece in 2008 is 94.1 percent. The Greek government has announced a number of incentives to implement. These include increased benefits for pensioners below the minimum, aid for farmers and housing subsidies for lower income earners.