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Tuesday, January 4, 2011

Euro Debt Crisis - Greek Budget Revenues Rise but Are Below the Target - CNBC

Greece net budget revenues rose by 5.4 percent in the whole of 2010 against a target of 6.0 percent growth, a finance ministry source said on Tuesday.

"Net budget revenues for the 12-months to December are up 5.4 year-on-year to 51.1 billion euros.

This leaves a shortfall of about 280 million versus the budgeted target," the official told Reuters.

In December revenues increased 10.6 percent to 5.75 billion euros.

Greece's budget deficit in 2010 is expected to fall to 9.4 percent of GDP, from an upwardly revised 15.4 percent in 2009.

The government aims to reduce the fiscal shortfall to 7.4 percent this year.

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