AFP, Athens :
The Greek government Sunday slashed GDP growth forecast for 2017 as it moved towards submitting new austerity measures, including a wider tax net, for approval by lawmakers.
The government lowered the GDP growth target for the year to 1.8 percent from a previous estimate of 2.7 percent, the state news agency ANA reported.
The latest estimate also falls short of the European Commission’s projection of 2.1 percent growth, set in February.
The downward revision appeared in the government’s budget proposal for 2017-2021, handed to parliament Saturday night, along with a bill proposing a tighter budget, ANA said.
Greece is seeking to meet the demands of creditors in an arduous bailout process, with a proposed new law projecting tax increases for 2019 and 2020, even for income just above the poverty level.
The Greek government Sunday slashed GDP growth forecast for 2017 as it moved towards submitting new austerity measures, including a wider tax net, for approval by lawmakers.
The government lowered the GDP growth target for the year to 1.8 percent from a previous estimate of 2.7 percent, the state news agency ANA reported.
The latest estimate also falls short of the European Commission’s projection of 2.1 percent growth, set in February.
The downward revision appeared in the government’s budget proposal for 2017-2021, handed to parliament Saturday night, along with a bill proposing a tighter budget, ANA said.
Greece is seeking to meet the demands of creditors in an arduous bailout process, with a proposed new law projecting tax increases for 2019 and 2020, even for income just above the poverty level.
