Greek Parliament passes 2016 budget
7:21 p.m. Saturday, Dec. 5, 2015
ATHENS, Greece — Greece's Parliament has approved the 2016 budget that includes deep spending cuts and tax hikes amid economic recession. The budget passed early Sunday, 153-145, with 2 lawmakers absent in the 300-member Parliament. The vote was strictly along partisan lines. The government forecasts zero economic growth this year and a contraction of 0.7 percent in 2016. Earlier, it had predicted declines of 2.3 percent and 1.3 percent, respectively. ![]()
Greece's Prime Minister Alexis Tsipras addresses lawmakers
during a parliamentary session in Athens, Sunday, Dec. 6,
2015. Greek parliament votes on 2016 budget that sees the
country slipping back into mild recession and maintaining
high unemployment. (AP Photo/Yorgos Karahalis)
Prime Minister Alexis Tsipras told Parliament that growth would resume in the second half of 2016 and a strong tourist season could avoid a recession altogether. Despite spending cuts of around 2 billion euros ($2.18 billion) and a similar amount in tax hikes, debt is forecast to grow to 327.6 billion euros ($356 billion) or 187.8 percent of GDP from 180.2 percent in 2015. http://www.ajc.com/ap/ap/top-news/greek-parliament-passes-2016-budget/npc4T/ |