Reuters
January 12, 2012
Greece's budget deficit widened last year despite the government's hopes to raise extra revenues from emergency taxes to make up for a recession worsened by tough austerity measures.
The central government budget gap, which excludes several large items such as local authorities finances, widened 0.8 percent year-on-year to 21.64 billion euros ($27.45 billion), according to figures from the finance ministry on Thursday.
The figures are indicative for the general government shortfall, the benchmark for the EU's assessment of Greece's economic policy program.
The gap was slightly lower than the deficit target of 21.7 billion.
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