Greece's budget deficit for the year 2000 was much higher than indicated by official figures just before Athens signed up for entry into the euro zone, Greece's finance minister said today.
The European Commission said Greece's budget data for the past four years would be revised but it was still too early to give figures.
A Greek official who wished to remain anonymous said that the country's 2001 and 2002 deficits were likely to break the Union's three per cent deficit limit rather than come in at the officially declared 1.4 per cent.
"The 2000 budget deficit has been revised higher to 4.1 per cent of gross domestic product (GDP) from 2 previously," Finance Minister Mr George Alogoskoufis told a parliamentary committee.
"Likewise the 2000 debt has been revised to 114 per cent from 106.2 per cent," he added.
Budget disciplinary action is already under way against Greece after its 2003 deficit was revised in May to 3.2 per cent of GDP from 1.7 per cent. The figure later submitted to Eurostat for 2003 was 4.6 per cent, senior finance ministry officials said recently.
