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02 October, 2001
The draft budget scenario submitted by National Economy and Finance Minister Yiannos Papantoniou in parliament aims at four basic targets: raising the general government's surplus to 1.3 percent of GDP, reducing the public debt to 95.2 percent of GDP, supporting a growth effort through higher investment spending and reduced consumer spending and finally earmarking more money to education, healthcare and employment.
The draft plan envisages a 7.8 percent increase in regular budget's total revenues to 39.85 million euros, with net revenues at 38.383 million euros, up 6.5 percent from 2001.
Tax revenues are forecast to increase by 8.0 percent while net primary spending to rise by 5.9 percent, significantly lower compared with the growth rate of nominal GDP (+7.7%).
Papantoniou said that consumer spending would be reduced by 2.1 percent, while subsidies to the country's social security funds would be raised by 7.2 percent to meet higher pension payments.
He said that spending of a Public Investments Program is forecast to rise by 9.7 percent from 2001, reflecting higher infrastructure needs for the Athens 2004 Olympic Games.
Source: Athens News Agency