Brussels - the Greece government deficit was significantly larger than last year's forecasts, EU data showed Tuesday, highlighting the difficulties of the indebted countries is having get its finances under control.
Deficit of the EU Executive, predicts the Greece reached 10.5% in 2010, although economic output above 9.6% Commission European, last fall.
The country's debt grow to 142,8% of gross domestic product - the highest in the euro area and primarily 140,2 percent, the Commission had provided - according to data published by the Statistical Office of the EU Eurostat.
Eurostat also raised government deficit of the Greece for 2008 and 2009 by 0.3 point percentage and point percentage 0.1 respectively, citing higher by the social security funds payments.
Greece had to be rescued from bankruptcy with European billion ($160 billion) rescue ready last may but continues to fight to increase the revenues that its economy is shrinking.
Most economists expect the country will finally to the restructuring of its debt - by asking creditors, either to give him more time to repay or even cut the total amount due. However, EU officials have ruled out until now a restructuring.
The Greek Finance Ministry attributed the larger deficit to one deeper than the recession expected to cut income tax and social security contributions. Nevertheless, he admitted figures showed more needed to be done to stop evasion tax and social security and reduce costs in hospitals, local administration and public enterprises.
"In any case, the Greek Government remains committed to its objectives of deficit economic adjustment program and will take all necessary measures in this direction," the Ministry said in a statement. The Government unveiled plans to cut expenditure in additional billions euro23 by 2015 and privatization of some public euro50 billion assets.
In its rescue program - which sets out the path to the Greece financial health - promised Athens to get its deficit below the 3% maximum permitted by the rules of the EU in 2014.
The 17 countries that use the euro had an average deficit of 6 percent last year, down from 6.3% in 2009.
The higher deficit was produced by the Ireland - the second country that needed to be taken case by the other countries of the EU and the Monetary Fund International - reaching record 32.4% of GDP due to bail out the expensive banks. The deficit was only slightly above the forecast of 32.3% last fall.
The Portugal, which is negotiating its own set of rescue loans has a deficit of 9.1%, way above the 7.3% the Commission had planned last fall, but Lisbon had warned the markets of the upward revision on Saturday.
Also lifted Eurostat figures of deficit in the Portugal for 2007, 2008 and 2009, by 0.4, 0.6 percentage point percentage point and 0.8 percentage point respectively, citing changes how the debt of some public enterprises had classified. These amendments mainly to affect evaluation of say the bad banks and other public property gone sour, were also the main reason for the higher deficit last year.
There was some good news for the Spain, countries that most analysts consider the link following the euro area. Its deficit was 9.2% of GDP, slightly lower than the forecast of 9.3% by the Commission.
Newcomer euro Estonia was the country of the euro area only to produce a surplus ravensview % of GDP - last year, but the small Baltic nation adopted the common January currency.
Bond markets reacted quickly to the new.
The performance - or interest rates - on Greek bonds of 10 years struck 15.26 per cent, reaching of 15.06% in the open, while the Portugal the rose of 9.58% from 9.47%. 10 Years of the Spain at the same time performance dug at 5.47% from $ 5.48%, but remains the way above the 4 percent that they exchange just last October.
Overall, the euro area has managed to reduce massive deficits, which he built during the financial crisis faster than expected. Set apart from the three most troubled countries, Greece, Ireland and the Portugal, only the Austria did not undermine the Commission's autumn forecasts.
The small Alpine nation deficit rose 4.6% in 2010, above the forecast of 4.3%, the same accounting changes that hit the Portugal.
The United Kingdom, which is not in the euro area recorded a deficit of 10.4% of GDP - the third higher EU behind the Ireland and the Greece. However, Eurostat said it had some reservations on the quality data provided by the United Kingdom because of the way the country recorded its military spending.
Eurostat Tim Allen spokesman says that it is too early to say for years and by how much deficit U.K. figures will be revised to be to comply with the rules of the Agency, but because the question was only related to the timing of the expenditurerather than the total amount, any revision should not affect the United Kingdom debt levels.
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Elena Becatoros Athens contributed to this story.
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