Greece predicted today that its budget deficit will fall sharply next year, helped by a bond writedown, and insisted that no fresh austerity measures will be needed to plug a hole in this year's finances. Submitting the 2012 budget, Finance Minister Evangelos Venizelos said the deficit will shrink from an expected 9 percent of gross domestic product this year to 5.4 in 2012 year, lower than previous targets.
Derek Gatopoulos and Nicholas Paphitis
, November 18, 2011
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