Greece: Economy & Finance

» BoG Governor on Budget Deficit

The strong parliamentary majority of the new government will enable it to move ahead with much needed reforms in the economy combined with a growth agenda, Bank of Greece Governor George Provopoulos said  October 6.  Speaking on the sidelines of the annual meeting of the International Monetary Fund and the World Bank in Istanbul, Provopoulos also warned that the budget deficit will be considerably higher than 6%, possibly reaching 10% of the GDP for 2009. Brussels is expected to publish its own estimates on the Greek budget and economy in the Commission’s fall report on November 3.  Kathimerini daily: Deficit seen above 10pct mark

» Investing in Gold

European Goldfields, a Canada-based resource company involved in the exploration, acquisition, mining, and development of mineral properties in Greece, Romania and South-East Europe, has won preliminary approval to develop two projects in the Olympias and Skouries mines, in northeastern Greece. It is expected that an output of 420,000 ounces of gold from 2012 onwards, will double current European gold production.  Kathimerini daily: Gold mine projects move ahead