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Greece Focus Notes
03 August 2012
• Primary deficit at ca 0.49 bn, decreased by 87.8% YoY on the back of decreased grants to general government entities and rationalization of wages and pensions expenditures • General government arrears at elevated levels; increased relative to their end-of-May 2012 level
• Creation of new arrears might bring forward doubts over the attainability of the 2012 fiscal target given the still lingering weaknesses in the reporting of general government obligations
See also
