After fourteen consecutive years of economic growth, Greece went into recession in 2008. By the end of 2009, the Greek economy faced the highest budget deficit and government debt-to-GDP ratios in the EU. After several upward revisions, the 2009 budget deficit is now estimated at 15.7% of GDP. This, combined with rapidly rising debt levels (127.9% of GDP in 2009) led to a precipitous increase in borrowing costs, effectively shutting Greece out of the global financial markets and resulting in a severe economic crisis.
After fourteen consecutive years of economic growth , Greece went into recession in 2008 . By the end of 2009 , the Greek economy faced the highest budget deficit and government debt - to - GDP ratios in the EU . After several upward revisions , the 2009 budget deficit is now estimated at 15.7 % of GDP . This , combined with rapidly rising debt levels ( 127.9 % of GDP in 2009 ) led to a precipitous increase in borrowing costs , effectively shutting Greece out of the global financial markets and resulting in a severe economic crisis .
What did the Greek economy have the highest of at the end of 2009?
What did the Greek economy have the highest of at the end of 2009 ?
budget deficit
budget deficit