Belfast Telegraph

Home News World

Greek parliament passes 2016 austerity budget

Greece's parliament has approved a 2016 budget that includes deep spending cuts and tax increases amid economic recession.

The budget passed by 153 votes to 145, with two MPs absent in the 300-member parliament. The vote was strictly along partisan lines.

The government forecasts zero economic growth this year and a contraction of 0.7% in 2016. Earlier, it had predicted declines of 2.3% and 1.3% respectively.

Prime minister Alexis Tsipras told parliament growth would resume in the second half of 2016 and a strong tourist season could avoid a recession altogether.

Despite spending cuts of around two billion euros (£1.4bn) and a similar amount in tax rises, debt is forecast to grow to 327.6 billion euros (£236bn) or 187.8% of GDP from 180.2% in 2015.

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?


From Belfast Telegraph