Athens: Greek parliament ratified the 2023 state budget, which foresees 1.8 per cent gross domestic product (GDP) growth and a 5 per cent inflation rate for the year.
Initial estimates of 2.1 per cent and 3 per cent respectively given in October, were revised on Saturday amidst continuing great uncertainty globally due to the energy crisis, the Finance ministry said in a statement, Xinhua News Agency reported.
The year 2022 would close with 5.6 per cent of GDP growth and 9.7 per cent of inflation, according to the budget which was passed with the votes of 156 lawmakers in the 300-member strong plenary.
“Economic growth and social welfare, bold reforms and prudence. These are the principles permeating our budget,” Greek Prime Minister (PM) Kyriakos Mitsotakis said in a speech shortly before the voting.
The state has supported society to cope with increased living costs with more than 15.1 billion euros (16 billion US dollars) to date, while more support measures will be introduced in 2023, Greek public broadcaster ERT reported, quoting the Prime Minister.
He also said that the year 2023 will register a primary surplus of 0.7 per cent of GDP. In 2022, the country reported a deficit of 1.6 per cent of GDP.
“The year 2022 will be the last one with a primary deficit. From 2023 economy returns to primary surpluses,” he said.
–IANS
Comments are closed.