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Greece May Proceed To GDP Revision

Greece may revise its GDP using 2005 as a base year, in an effort to tackle fiscal deficit and public debt.

Government sources note that the new revision will take into account, among others, the funds that will return to Greece on the incentives set by the new law concerning the repatriation of capital.

The same sources note that the revision procedure will last one year, meaning that the final results will be outlined in spring 2011.

According to an EU rule. Member states have to change their base year every five years.

If Eurostat approves a 10-15% revision of the Greek GDP, budget gap and public debt will shrink as a percentage of GDP, helping the government achieve its deficit goals.

It is noted that in 2006, the then Statistical Service head M. Kontopirakis had asked for a GDP revision of 25% for 2000-2006. Eurostat approved a revision of 9.6%.

- Ez is egy módszer (sarkítva): addig csökkentjük a bázist, amíg nem tetszik a %-os változás. Viccesen mennek itt a nagy dolgok.