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Greece sees GDP shrinking 2.6 pct in 2011- budget
October 4, 2010 / 1:06 PM / 7 years ago

Greece sees GDP shrinking 2.6 pct in 2011- budget

ATHENS, Oct 4 (Reuters) - Greece expects the economy to contract by 2.6 percent next year after a 4.0 percent slump in 2010, staying in recession for a third straight year, the country’s draft budget showed on Monday. The government will aim to grow revenues by 8.2 percent next year form 10 percent in 2010 and projects spending to go up by 1.5 percent due to higher interest payments on public debt. It expects spending cuts of 7.6 percent this year. (Reporting by Lefteris Papadimas)

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