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Greek Government Brings 2020 Budget to Parliament

Greece’s state budget for the financial year 2020 was presented to Parliament by Finance Minister Christos Staikouras on Thursday.

A growth rate of 2.8% and a primary surplus of 3.6% in 2020 are foreseen in the new budget, slightly exceeding the 3.5% target.

It must be noted, however, that the Greek government’s growth rate estimates are the most ambitious of all the projections seen so far, most of which put the roof between 2.0 and 2.2 percent.

Greek Finance Minister Christos Staikouras, (L), gives a USB memory stick containing the Greek budget figures to the Speaker of the House, Constantinos Tasoulas

The Greek government expects unemployment to drop further as well, to 15.4 percent in 2020. The highest rate ever recorded, at the peak of the financial crisis in 2013, was approximately 28 percent of the country’s workforce.

The proposed budget will be discussed in the relevant parliamentary committee for a total of four days, beginning on Monday, November 25.

The budget is traditionally voted on by the plenary of the House in the last days before the Parliament’s Christmas recess.

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