The guidelines of the measures for the period 2012-2015 are planned to be presented to the Cabinet on Thursday, however the planning, which may change again, refers to gradual announcements made possibly by Greek Prime Minister George Papandreou.
A deadline is set on May 16, when the bill will be introduced before the Parliament.
Note that according to the Memorandum of Understanding, the measures should be given to IMF/EU/ECB and published by March 31, but it didn’t happen. Moreover, they should be approved by the cabinet on April 15.
Many government officials pressed for immediate announcement of all the measures in order to reserve the sentiment of uncertainty in the market and the economy. The facts show that the other opinion prevailed, after discussions with the MPs in order to avoid a replay of the intolerable reactions that happened last week at a session for the new gambling bill.
Finance Minister G. Papakonstantinou told the parliamentary assembly of the ruling party that the measures for the period 2012-2015 are likely to increase to €23b from €22b, of which €14b will be saved through spending cuts, while additional €2b will be imposed for the reduction of state deficit to €19b.
Government officials, who asked for immediate announcements, are concerned about the reactions of IMF/EU/ECB representatives who arrive in early May in Athens to review Greece’s progress in order to approve the next installment of the bailout loan.
Troika officials were concerned about state deficit during their last visit in Athens as the recording of fiscal figures seems endless. Revenues reported a gap of €1.4b, while the restraint of expenditure is uncertain as the effort are based on investments that haven’t yet delivered.
A deadline is set on May 16, when the bill will be introduced before the Parliament.
Note that according to the Memorandum of Understanding, the measures should be given to IMF/EU/ECB and published by March 31, but it didn’t happen. Moreover, they should be approved by the cabinet on April 15.
Many government officials pressed for immediate announcement of all the measures in order to reserve the sentiment of uncertainty in the market and the economy. The facts show that the other opinion prevailed, after discussions with the MPs in order to avoid a replay of the intolerable reactions that happened last week at a session for the new gambling bill.
Finance Minister G. Papakonstantinou told the parliamentary assembly of the ruling party that the measures for the period 2012-2015 are likely to increase to €23b from €22b, of which €14b will be saved through spending cuts, while additional €2b will be imposed for the reduction of state deficit to €19b.
Government officials, who asked for immediate announcements, are concerned about the reactions of IMF/EU/ECB representatives who arrive in early May in Athens to review Greece’s progress in order to approve the next installment of the bailout loan.
Troika officials were concerned about state deficit during their last visit in Athens as the recording of fiscal figures seems endless. Revenues reported a gap of €1.4b, while the restraint of expenditure is uncertain as the effort are based on investments that haven’t yet delivered.
