December 18, 2022
1 min read

Greek parliament approves 2023 state budget

The year 2022 would close with 5.6 percent of GDP growth and 9.7 percent of inflation, according to the budget which was passed with the votes of 156 lawmakers in the 300-member strong plenary…reports Asian Lite News

Greek parliament ratified on Saturday the 2023 state budget, which foresees 1.8 percent gross domestic product (GDP) growth and a 5 percent inflation rate for the year.

Initial estimates of 2.1 percent and 3 percent respectively given in October, were revised amidst continuing great uncertainty globally due to the energy crisis, the Finance ministry said in a press release.

The year 2022 would close with 5.6 percent of GDP growth and 9.7 percent 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 U.S. dollars) to date, while more support measures will be introduced in 2023,  Greek public broadcaster ERT reported, quoting the PM.

He also said that the year 2023 will register a primary surplus of 0.7 percent of GDP. In 2022, the country reported a deficit of 1.6 percent of GDP.

“The year 2022 will be the last one with a primary deficit. From 2023 economy returns to primary surpluses,” he said.

ALSO READ: Modi dials Putin, discuss Ukraine war

Previous Story

Quadrilateral agreement inked on Black Sea electric cable

Next Story

Russia to invest $69 mn in quantum communication network

Latest from -Top News

Trump Targets BRICS Allies with New Tariff

This move coincides with the ongoing BRICS summit being held in Rio de Janeiro, Brazil…reports Asian Lite News US President Donald Trump has announced that an additional 10 per cent tariff will

BRICS Endorses India’s Stand on Terror

The treaty proposed by India within the UN framework aims to provide a comprehensive legal basis for combating terrorism….reports Asian Lite News The leaders’ joint statement, issued after the 17th BRICS summit

BRICS Slams US Tariff Hikes

The leaders criticised developed nations for using environmental issues to justify trade restrictions on developing countries….reports Asian Lite News Rio de Janeiro, July 7 (IANS) Embroiled in a trade war launched by

US Tariffs Pushed to August Amid Talks

In April, Trump announced a base tariff of 10 per cent on most of America’s trading partners and thereafter additional duties ranging up to 50 per cent….reports Asian Lite News US President

Indonesia Joins BRICS Bloc

This year’s BRICS Summit saw an expanded format, reflecting the grouping’s growing relevance in international affairs….reports Asian Lite News Prime Minister Narendra Modi formally welcomed Indonesian President Prabowo Subianto into the BRICS
Go toTop

Don't Miss

Greek conservatives win in regional elections

The regional elections came as a political test for the

Greece to welcome tourists in May

The Greek government is aiming to restart tourism on May