Awwal 11, 1432 / April 15, 2011, SPA -- Greece's prime minister is expected to present a midterm package of economic measures worth $33 billion to his ministers Friday, as the debt-ridden country struggles to bring its finances under control. George Papandreou is to present the package, which will run from 2012-15, to his ministers in Cabinet, a day after Greece's borrowing costs spiraled once more as investors fretted over whether the country will have to restructure its massive debts. The government insists a restructuring is not on the cards. Finance Minister George Papaconstantinou said earlier this week that the measures will not include across-the-board salary and pension cuts or sweeping tax increases like those announced last year in return for the ¤110 billion package of bailout funds from the European Union and International Monetary Fund. Instead, he said, the measures will focus on curbing wasteful spending at state enterprises, limiting public sector payroll costs and cracking down on tax evasion and the non-payment of social security contributions, as AP reported.
