ATHENS (MNI) – The new austerity plan unveiled Sunday by Greece
contains a range of projections showing, among other things, that the
government will be cutting the budget deficit more sharply in the first
year than previously expected, and that the cuts will fall in the midst
of a recession that will be nearly two times deeper than previously
forecast.

Even after the four-year deficit-cutting and reform plan has run
its course, the Greek public debt will still be an astronomical 144.3%
of GDP.

The table of forecasts under the new Greek program is below:

2010 2011 2012 2013 2014

GDP -4.0 -2.6 1.1 2.1 2.1

DEFICIT (pct of GDP) -8.1 -7.6 -6.5 -4.9 -2.6

DEBT (pct of GDP) 133.3 145.1 148.6 149.1 144.3

[TOPICS: M$$EC$,M$$CR$,M$$FX$,MT$$$$,MGX$$$,M$X$$$]