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Greece Focus Notes

06 October 2011
• Real GDP growth is now expected to contact by -5.5% in 2011 and -2.5% in 2012; positive GDP growth expected from 2013 onwards
• 2011 budget plan: updated deficit target for 2011 at -8.5% of GDP; 2012 deficit target remains at -6.8% of GDP• Additional measures of € 7.1 bn for the achievement of the 2011 and 2012 budget deficit targets; required bills expected to pass from Parliament by end-of-October
• Acceleration of structural reforms in view of the conclusion of the 5th Review of the EC/ECB/IMF adjustment programme
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