November 14, 2010
Debt-ridden Greece expects "substantial pressure" from the European Union and the International Monetary Fund this week to adopt further austerity measures, a senior government official said Sunday, amid expectations that the country will miss its deficit targets.
The budget gap for 2009 is now expected at about 15.4% to 15.5% of gross domestic product, the official said, while the current year's deficit is expected to be 9.3% to 9.5% of GDP. The 2009 figure is expected to be announced this week.
"If the higher estimate is confirmed, we expect tough talks with the EU and the IMF on extra spending cuts," the official said.
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