15.08.2012 - 07:21 [ Kathimerini ]

Spending moratorium in place

Government spending for this year has been budgeted at 108.5 billion euros (including a sum for the recapitalization of banks). Of this, only 40.9 billion had been spent by the end of July. Primary spending, the public investment program and the settlement of outstanding arrears to suppliers have been put on hold, being the only ways of keeping the deficit on target, especially given the difficulty in raising revenues.