{"id":1340,"date":"2010-11-15T17:41:56","date_gmt":"2010-11-15T15:41:56","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=1340"},"modified":"2023-08-02T15:49:15","modified_gmt":"2023-08-02T12:49:15","slug":"fiscal-data-revisions-assessment-implications","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/fiscal-data-revisions-assessment-implications\/","title":{"rendered":"Fiscal data revisions: Assessment &#038; implications"},"content":{"rendered":"<p>Authors: G. Hardouvelis, P. Monokroussos<br \/>\n<em>Publication: Focus Greece, Eurobank Research, November 15, 2010<\/em><\/p>\n<p><strong>Introduction:<\/strong><br \/>\nEurostat releases 2nd notification on provisional EU27 deficit and debt figures for the period 2006-2009;\u00a0revisions to Greece\u2019s past fiscal data broadly in line with market expectations<\/p>\n<p>Eurostat released earlier today a second notification on provisional EU27 deficit and debt figures for the\u00a0period 2006-2009. The report showed a rise in the euro area government deficit to 6.3%-of-GDP last year,\u00a0from 2.0%-of-GDP in 2008, with the corresponding debt to GDP ratio reaching 79.2% in 2009 compared to\u00a069.8%-of-GDP in the prior year. At a EU27-wide level, the fiscal deficit rose to 6.8%-of-GDP in 2009, from\u00a02.3%-of-GDP in 2008, while the corresponding government debt-to-GDP ratios stood at 74% and 61.8% at the\u00a0end of 2009 and 2008, respectively.<\/p>\n<p>For Greece, the announced revisions were broadly in line with market expectations, following a number of\u00a0recent press reports on their likely direction and expected size. Specifically, the 2009 general government\u00a0budget deficit was re-estimated at 15.4%-of-GDP, compared to a deficit of 13.8%-of-GDP presented in the\u00a02011 draft budget (released in mid-October). Moreover, the 2009 government debt to GDP ratio was revised\u00a0to 126.8%, from a 115.4% figure recorded in the draft budget&#8230;<\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2018\/01\/Greece_Macro_Note_November_15_2010.pdf\">Download Fiscal data revisions: Assessment &amp; implications in pdf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authors: G. Hardouvelis, P. Monokroussos Publication: Focus Greece, Eurobank Research, November 15, 2010 Introduction: Eurostat releases 2nd notification on provisional<\/p>\n","protected":false},"author":1,"featured_media":4399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,13,15,14],"tags":[3252,3253],"yst_prominent_words":[2160,2149,2150,2162,2153,2161,2154,2155,388,2158,2151,2159,2152,2163,2156,391,2157,390],"class_list":["post-1340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-analysis","category-greece","category-15","category-14","tag-applied-research","tag-efarmosmeni-ereuna"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/1340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=1340"}],"version-history":[{"count":2,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/1340\/revisions"}],"predecessor-version":[{"id":1453,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/1340\/revisions\/1453"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media\/4399"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=1340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=1340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=1340"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=1340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}