Greek Govt Foresees 2.7% Growth in Next Year's Budget

Greek lawmakers passed the budget bill for next year, boosting state revenues through indirect taxation and cutting spending, Kathimerini English reports.

Prime Minister Alexis Tsipras is quoted as saying before the vote that 2017 will be a "landmark year" with economic growth measured at 2.7%. The legislature's Budget Office, on the other hand, says the mixture of extra taxes and cuts will result in a recessionary effect in the short term.

Since the crisis began in 2008, Greece's national output has shrunk by more than a quarter.

The budget was passed by a vote 152-146 vote.

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