ATHENS, Greece ? Greece's finance minister says no new austerity measures will be needed to cover the 2011 budget shortfall.
Evangelos Venizelos made the pledge Friday after submitting the debt-crippled country's austerity budget for next year to parliament.
This year's budget deficit is now expected to hit 9 percent due to an enduring recession, slow reforms, and poor tax collection, while the 2012 shortfall is anticipated to be lower than previously thought at 5.4 percent of GDP.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
ATHENS, Greece (AP) ? Greece's finance minister says no new austerity measures will be needed to cover the 2011 budget shortfall.
Evangelos Venizelos made the pledge Friday after submitting the debt-crippled country's austerity budget for next year to parliament.
This year's budget deficit is now expected to hit 9 percent due to an enduring recession, slow reforms, and poor tax collection, while the 2012 shortfall is anticipated to be lower than previously thought at 5.4 percent of GDP.
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