Greece curtails public investment in January to meet Budget targets


Tax refunds and public spending have been stopped by the Greece Government in January to adjust the dip in tax revenues in order to meet its budget target said the Greece Government on Monday. The income of Greece Government from VAT receipts fell by €241Mn in the wake of ongoing recession going on in the country.

Greece curtails public investment in January to meet Budget targets-global-annal

The overall revenues of Greece Government suffered a blow by 11 percent and reached 4.42Bn Euros. Affected negatively by the Austerity measures put in place by Greece Government, the retail sales have been slowing down in double digit figures.

 

Source: Reuters, Economic Times, Yahoo

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