Greece's central government deficit widened 15 per cent year-on-year in the first nine months of 2011, the finance ministry said today, blaming a deeper-than-expected recession.

The January-September budget gap grew to €19.16 billion from €16.65 billion in the same period last year, according to finance ministry figures.

However, the budget gap was narrower than a revised indicative target of €19.24 billion for the first nine months of the year, the ministry statement said.

The data refers to the state budget deficit, which excludes local authorities and social security spending. It does not coincide with the general government shortfall, the benchmark for the EU's assessment of Greece's economic policy programme.

Reuters