Greece: Updated Stability & Growth Programme

(GREEK NEWS AGENDA)  Prime Minister Kostas Karamanlis chaired a meeting on Friday (30.1) of the Inter-Ministerial Committee on the Economy, which discussed the updated three-year stability programme that was later submitted to the EU. Presenting the updated Stability and Growth programme for the period 2008-2011, Economy and Finance minister Yiannis Papathanassiou stressed that Greece is expected to be one of the five eurozone member-states to achieve positive economic growth rates in 2009. According to the programme, the fiscal deficit would be 3.7% in 2008 and 2009, falling to 3.2% in 2010 and 2.6% in 2011. The economy is expected to grow by 1.1% this year, 1.6% in 2010, reaching 2.3% in 2011, while employment is expected to grow by 0.2% this year and by 0.6% and 0.7% in 2010 and 2011, respectively. Unemployment is expected to grow from 7.5% in 2008 to 8.0% this year and to remain at this level until 2011, before beginning to fall. Ministry of Economy and Finance: Updated Stability and Growth Programme for 2008-11 (in Greek) & Fact Sheets