Greek government says aims to cut deficit, revive economy

Reuters News
Posted: Jul 03, 2012 9:53 AM
Greek government says aims to cut deficit, revive economy

ATHENS (Reuters) - Greece's new government will focus on cutting the country's budget and current account deficits together with reviving its recession-hit economy, Deputy Finance Minister Christos Staikouras said on Tuesday.

"We have underlined that it is necessary to apply additional policies to reverse rising unemployment, contain recession and help the economy recover," he told a conference in Athens.

"A basic aim is the economy's macro-economic adjustment towards smaller twin deficits."

He reiterated the government's plan to tweak its latest bailout package, saying that would be done to make it more "viable and effective".

He added that the government would also try to pay out arrears of about 6.5 billion euros to suppliers this year if it could. Near-bankrupt Greece has held off on paying suppliers to avoid running out of money.

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(Reporting by George Georgiopoulos and Deepa Babington)