Greeting 2012 means new measures that’ll save us 5 billion euros

Year nearly over, we are called to pay 2.1 billions

 

The sad story of the Greek 2012 state budget dictates new, 5 billion euro measures for the coming year plus 2.1 billion euro of extra ones for the months before the end of 2011.

All of the above according to the draft plan of the state budget that was tabled in parliament earlier on Monday.

The new austerity cuts will focus yet again on the wages and pensions and indirectly from the tax on heating oil.


Finally, the figures proved that the deficit stands at 8.5% -and not at 7.9%- of the GDP for 2011 and if the citizens of Greece don’t pay their taxes it might even end being higher by 0.5%.

The recession is expected to be a deep one for a forth consecutive year while the development rate will remain negative also in 2012 at -2.5% mainly because of the fiscal turmoil in the country.

According to the government, Greece will find its normal development pace in 2013.

Meanwhile, the Greeks will see their wallets empty and unemployment skyrocketing at 16.4% in the coming year as layoffs are to prevail in the social reality. The exports of goods however are expected to go up by 6.4% while the imports will drop by 2.8%. As for the Harmonised Index of Consumer Prices (HICP) figures show it will rise in 2012 at 0, 6%.