Greece’s 2014 Budget Approved

Greece’s Parliament early on Sunday approved a budget for 2014 which predicts a timid return to growth after six years of recession despite the reluctance of many government lawmakers to impose further cutbacks on a country reeling from economic hardship.

After several days of debate, the budget, which outlines 3.1 billion euros ($4.2 billion) in state spending cuts and 2.5 billion euros in additional tax revenue, passed through the 300-seat Parliament with 153 votes to 142, securing the backing of all coalition members of Parliament except one who was absent.

The result had been widely expected as more contentious legislation, chiefly regarding heavier property taxes, is not due for debate until next week.

CNBC

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