(Title) confident that there will be no problem in achieving the objective of reducing the fiscal deficit of Greece in 2010 and this will help Greece to return to the markets in 2011 and convince investors that the bonds of an opportunity, not something to fear, voiced by Finance Minister Giorgos Papakonstantinou in an interview with international news agency Bloomberg.
The Minister gave the interview before the meeting will have next week with foreign investors in Europe to inform them of the progress of the Greek economy. The shortfall in revenue this year was offset by a greater reduction in public expenditure, the minister said and added that revenue collection will improve by the end of the year.
The budget for 2011 will take fewer steps, as some of the measures taken this year will affect the following year, he said Papaconstantinou, adding that the government does not want measures that will be an additional charge for development, such as increasing the tax on a range of commodities and services from low to high VAT rate.
If you find and agree with the Troika good alternatives, I would go with them, he said, noting that the goal of reducing the deficit does not change. The impact of fiscal adjustment measures will be felt in the third quarter, said the Minister, excluding again the possibility of restructuring the debt of Greece.
Greece is planning to issue treasury bills this month while the Minister said it is likely to affect three and six months duration and not annual. With the downturn in the economy, the Minister said that the decline in GDP this year may be less than 4%.