International Monetary Fund expects the budget problems in Greece

Wednesday 15 September 2010

International Monetary Fund said in a report on Greece published on Tuesday that some of the problematic elements in the second half of the year may be held policy of reducing the deficit in the budget after the recent success.
The report, which dates back to 26 August on the economic progress of the program after obtaining a loan for Greece, about 30 billion euros, that "the risk of suffering from the prospect of revenue because the economy will shrink and expenses of the local bodies are not fully controlled by the government."
"In addition to that, there are some budget cuts in terms of expenses must show results due to the focus on the payment of interest and the high military spending in the second half of the year."
He also disclosed the amounts that will cover the end of the year expenses of the hospitalization sector.
The statement said that "things are not visible currently in the budget such as guarantees of the debt would amount to 5.1 billion euros, with the difficulties facing public institutions in terms of refinancing the debt would accrue."

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