Greek 2011 budget deficit to be around 9 pct/GDP: government (Reuters)

ATHENS (Reuters) ? Greek Finance Minister Evangelos Venizelos expects the country's budget deficit to be around 9 percent of GDP this year, said an official who attended the first cabinet meeting of a new coalition government on Friday.

"The estimate by Venizelos is that (the budget deficit) will be around 9 percent," the official told Reuters on condition of anonymity. Venizelos gave the figure at the cabinet meeting.

The figure is close to an estimate from the European Commission released on Thursday that estimated this year's budget deficit at 8.9 percent of gross domestic product.

But it is higher than an 8.5 percent of GDP deficit estimated in budget documents approved in October, which itself surpassed a 7.6 percent target laid out in the country's international bailout plan.

(Reporting by George Georgiopoulos; Writing by Karolina Tagaris)

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/nm/20111111/ts_nm/us_greece_deficit

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