April 23 (Reuters) - Greece asked on Friday to tap billions of euros in aid from the European Union and the International Monetary Fund to try and stem a severe debt crisis that has shaken markets worldwide.
Investors welcomed Greece's move to trigger the aid mechanism but said doubts remained over the debt-choked country's medium term prospects.
The government aims to reduce its deficit to 2.8 percent of gross domestic product, below the EU's 3 percent of GDP limit, in 2012, from at least 13.6 percent of GDP last year.
Following is a table of key facts and targets from Greece's budget consolidation plan and latest the latest data from the European Commission, followed by data on Greece's debt profile.
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(in percent, euros bln)
2009 2010 2011 2012 --------------------------------------------------------------- DEFICIT TO GDP (%) 13.6* 8.7** 5.6 2.8 GDP GROWTH (%) -2.0 -2.25*** 1.5 1.9 PUBLIC DEBT(% to GDP) 115.1* 120.4 120.6 117.7 GENERAL GOVT REVENUES (% of GDP) 36.9 41.9 43.5 45.0 GENERAL GOVT SPENDING % of GDP) 50.4 50.6 49.1 47.8 INFLATION 1.2 1.4 1.9 1.8 UNEMPLOYMENT 9.5 9.9 10.5 10.5 ---------------------------------------------------------------- Source: Greek authorities, except 2009 deficit, growth, debt, revenues and spending from EU statistics office Eurostat.
* Eurostat said it may further revise 2009 deficit number by 0.3 to 0.5 percentage points of GDP and public debt by 5 to 7 percentage points of GDP after concluding an investigation. ** Both Athens and EU officials appeared to be backing away from this target on Thursday, saying Greece had to reduce its deficit by 4 percentage points, whatever the starting point. *** European Commission forecast. The Greek government has said that it would revise downwards its -0.3 percent contraction forecast included in the stability programme. ********************************************************** GREEK DEBT PROFILE
-- Greece's debt totals around 300 billion euros.
-- The total borrowing need in 2010 is 53.2 billion euros or 22 percent of GDP. This is down 13 billion from 2009 and includes 12.95 billion in interest payments, a primary deficit of 10 billion euros and redemptions of 30.23 billion.
-- Greece has borrowed 28.5 billion euros so far this year.
-- Finance Minister George Papaconstantinou has said May's borrowing need is less than 10 bln euros. Greece needs to roll over an 8.5 bln euro, 10-year, 6 percent bond due on May 19.
-- Weighted average maturity profile of Greek debt is 7.8 years, the second-highest in the euro zone after Austria.
-- The average financial duration of Greek debt is 4.2 years.
-- Rollover risk in 2010 (defined as redemptions as a percent of total outstanding debt) is less than 10 percent.
-- The refinancing ratio of Greek debt in the next 5 years is lower than 55 percent.
-- Expected privatisation proceeds of about 2.3 percent of GDP in the next 3 years will be used to retire debt.
-- Repayment of 3.8 billion euros of capital injections to Greek banks under a government liquidity support scheme will also be used to reduce debt.
-- Greek government bonds make up 82.6 percent of total outstanding debt, with T-bills accounting for just 3.1 percent. The remainder is syndicated loans. Only 0.4 percent of Greek debt is in foreign currency -- Swiss francs, U.S. dollars, yen, and sterling.
(Reporting by Ingrid Melander; Additional reporting by George Georgiopoulos and Harry Papchristou; Editing by Toby Chopra)