Financial Times
November 17, 2010
Greece will present its 2011 budget to parliament on Thursday following a last-minute scramble to make additional spending cuts demanded by its eurozone partners.
Slow progress this year on reducing tax evasion and eliminating corruption in the state hospital system has meant the government will miss its targets for both public sector spending and revenues in 2010.
George Papaconstantinou, the finance minister, pledged to make an extra €3.5bn-€4bn of savings in 2011, mainly through cost-cutting at public sector corporations and other state entities. The healthcare budget would be slashed by an extra €1bn.
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