Greece vows to cut budget deficit
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Greece vows to ensure next year's budget deficit meets the European Union's 3% limit by curbing spending and raising revenue through privatisations.
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WASHINGTON -- The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates.
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BEIJING : The Chinese government will try to cut its huge deficit next year and curb investment financed from public coffers, state media said, quoting Vice Finance Minister Lou Jiwei.
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French finance minister Nicolas Sarkozy unveils a budget with a promise to bring the deficit under control and high-profile tax breaks.
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U.S. Treasury Secretary John Snow said on Sunday he assured members of the Group of 20 nations that Washington will slash deficits they blame for a falling dollar and repeated his call for stronger European growth.
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Greece acknowleged that its public deficit in 2000 came to 4.1 percent of output rather than the 2.0 percent announced at the time.
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The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004
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The European Commission is to warn Greece about publishing false information about its public finances.
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Greece's President Constantinos Stefanopoulos will pay a three-day visit to Bulgaria starting Oct.
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The prime minister pledged Sunday that thousands of acres of forests destroyed by wildfires across Greece in recent days would be replanted, including sections in a national park.
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President George W Bush reaffirms his commitment to a strong US dollar and pledges to halve the budget deficit.
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Greece said the government will spend 7.2 billion euros ($9.3 billion) on the Athens Olympics, 56 percent more than the initial budget, as construction delays and security for the first Summer Games since the Sept.
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Democratic presidential nominee John Kerry promised to cut in half the size of the US budget deficit in his first term in office and accused the administration of President George W. Bush of conducting an irresponsible fiscal policy.
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US President George W Bush says his forthcoming budget plans will seek to curb on domestic spending.
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Greek conservative Prime Minister Costas Karamanlis on Monday vowed to press ahead with economic reforms after being asked to form a government following his narrow election victory.
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The European Union's executive commission said Wednesday it would open legal proceedings against Greece for sloppy bookkeeping and underreporting its budget deficit by billions of euros since 1997.
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US President George W Bush says his forthcoming budget plans will seek to curb domestic spending.