The Greek parliament endorsed on Friday the 2007 state budget with 166 deputies voting for and 134 against out of the 300-member House.

Addressing the parliament before the vote takes place, Prime Minister Costas Karamanlis termed the voting of the budget as a " vote of confidence for the continuation of reforms in all sectors" of the Greek society.

According to the 2007 state budget, the growth rate of the Greek economy is anticipated at approximately 3.8 percent, spurred chiefly by investments. A 6.5 percent increase is also forecast in exports of goods and services while, on the negative side, a 7.0 percent increase is forecast in imports.

The main targets of the 2007 budget are boosting development and gradual reduction of the state deficit, while measures are provided for boosting the growth potential, consolidating the climate of fiscal discipline and stability in the economy, and strengthening social cohesion.

Total net revenues will increase by 6.2 percent compared to 2006. According to this forecast, revenues will be at 25.4 percent of GDP compared to 25.6 and 24.8 percent in 2006 and 2005 respectively.

The central government's deficit will decrease to 4.3 percent of the GDP.

Source: Xinhua