A look at Greece's key financial figures


Associated Press

Posted on November 20, 2012 at 9:01 PM

Updated Tuesday, Nov 20 at 11:32 PM

BRUSSELS (AP) — Eurozone finance ministers were wrangling late Tuesday on how to help Greece reduce its debt to sustainable levels without further burdening the taxpayers of other euro-using countries in the European Union.

Here's a look at some of the country's main economic and financial statistics.

Economic growth

— Greece is in its fifth year of recession. Over the previous four, the economy contracted by 20 percent. The European Union expects the country's economy to contract 6 percent this year, to €195 billion ($250 billion), and another 4.2 percent next year.


— The unemployment rate hit 25.4 percent in August, according to Eurostat, the EU statistics agency. The government hopes to bring it down to 10 percent by 2016. Among young people — aged between 15 and 24 — the jobless rate was 57 percent in August.

Public debt

— Greece's government debt is projected to rise to 189.1 percent of gross domestic product in 2013, above the 182.5 percent predicted in the preliminary draft submitted at the start of October, and up from the 175.6 percent forecast for this year. The country's bailout program aims to get debt down to 120 percent of GDP by 2020.

Government budget deficit

— Greece's government budget deficit is projected at 5.2 percent of GDP in 2013, up from 4.2 percent predicted in the preliminary draft of the budget — but still an improvement from the 6.6 percent predicted for this year.

Bailout loans

— So far, Greece has received nearly €149 billion ($191 billion) in bailout loans from the eurozone and the International Monetary Fund out of €240 billion ($307 billion) that has been approved.