General government deficit 7.5 pct of GDP at the end of 2015 – Public debt down

General government deficit totaled 13.2 billion euros, or 7.5 pct of GDP at the end of 2015, according to revised fiscal figures sent to Eurostat by Hellenic Statistical Authority in the framework of an excessive fiscal deficit procedure.

The country’s public debt totaled 311.7 billion euros or 177.4 pct of GDP, the statistics service said on Thursday.

The statistics service noted that this deficit did not cover the primary balance that the country will present to its creditors based on a fiscal adjustment program.

The general government deficit was 13.2 billion euros at the end of 2015 (7.5 pct of GDP), from 6.4 billion euros or 3.6 pct of GDP in 2014. The deficit was 7.2 pct of GPD in the first estimate.

The public debt was 311.7 billion euros of 177.4 pct of GDP in 2015, from 319.7 billion or 179.7 pct of GDP in 2014. The first estimate showed a public debt of 176.9 pct of GDP. The country’s Gross Domestic Product continues falling since 2012 when it was 191.2 billion euros. It fell to 180.6 billion in 2013, 177.9 billion in 2014 and 175.7 billion in 2015.

General government balance was burdened with 7.17 billion euros from the financial support offered to financial institutions in 2015.