Rus News Journal

Greece the sixth year of recession

the Budget of Greece on 2013 waits. Assumes reduction of expenses to achieve primary proficiency for the first time for many years, nevertheless national economy next year will continue to stay in recession the sixth year successively, transfers Reuters referring to a source in the Greek governmental circles.
so, according to a source, the budget means primary proficiency in 1,1 % of gross national product at gross national product reduction on 3,8 - 4,0 % in 2013. We will note, in 2012. Primary deficiency (without expenses on debt service), predictably, will exceed target 1 % of gross national product (the IMF forecast on the given indicator - 1,5 % of gross national product).
Later today the Greek government will publish the project of the budget which should meet requirements of the international creditors, remaining heavy burden for the country population. The budget means the further reductions of salaries in public sector within the limits of the program on reduction of expenses on 11,5 mlrd euro the next two years.
the budget project will include reduction of state expenses on 7,8 mlrd euro in 2013. - has informed a source. Thus, in 2013. Greece plans to realise the most part of the planned reduction of state expenses which is a condition of a three of the international creditors - the European Union (EU), European Central Bank (ETSB) and the International currency fund (IMF) - for allocation of Greece the next credit tranche.
strict measures of budgetary economy have negatively affected a level of economic activity and internal demand, and also have led to growth of unemployment to record 24,4 %.
Earlier it was informed that the Greek authorities have agreed with the international creditors about increase of pension age till 67 years. Now age of a retirement in Greece 65 years. Pension age increase will allow the country to save annually to 1,1 mlrd euro.
on messages of mass-media, the European creditors insist also on that the Greek authorities have entered in the country six-day working week.
since May 2010. The international creditors of Greece - the countries of an eurozone and the International currency fund - have opened to Athenes two demand lines of credit for a total sum 240 mlrd euro (110 mlrd and 130 mlrd euro). In exchange Greece was obliged to spend scale reduction of state expenses and to reform economy, however reforms are constantly braked from - for absence of a national political consensus.
the question on granting of Greece next credit tranche should be considered at the meeting of Ministers of Finance of an eurozone planned for October, 8th.
with a high probability the decision will be again postponed, as to session of Ministers of Finance a three Should have time to approve the governmental plan on reduction of budgetary deficiency, and the Greek parliament - to assert it that is improbable in so deadlines. Besides it becomes more and more obvious that it is required to Greece not only a two-year postponing of execution of conditions of the external help, but also additional financial assets, and to give to Greece new money now anybody does not want - analyst IK " marks; Sovlink Olga Belenkaja.
earlier American professor of economy Nuriel Rubini which have predicted financial crisis 2008., has declared that the euro zone will stop existence a maximum in half a year. As he said, the situation in Greece will not improve, as the government of this country will collapse in the nearest half a year.