Greek recession seen deeper than 7 percent this year: PM

ATHENS Tue Jul 24, 2012 8:24am EDT

Greece's Prime Minister Antonis Samaras attends a parliament session in Athens July 7, 2012. REUTERS/Yorgos Karahalis

Greece's Prime Minister Antonis Samaras attends a parliament session in Athens July 7, 2012.

Credit: Reuters/Yorgos Karahalis

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ATHENS (Reuters) - Greece's recession may be deeper than 7 percent this year, Prime Minister Antonis Samaras said on Tuesday, estimating that the country would not return to growth before 2014.

"We will start containing the recession this year and we will be able to move onto recovery at the beginning of 2014," Samaras told a parliamentary group meeting.

Greece is in a fifth straight year of recession and blames the deeper than expected contraction for missing its tax revenue and budget deficit goals.

(Reporting by Harry Papachristou)

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Comments (1)
Willie12345 wrote:
Bush is responsible, we just need to convince everyone.

Jul 24, 2012 9:27am EDT  --  Report as abuse
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