Brussels, 18/09/2012 (Agence Europe) - On Tuesday 18 September 2012, Greek finance minister Yannis Stournaras said that his country would have a larger-than-expected public deficit in 2012, but was “on track” to make a successful budget adjustment as long as it was given more time. He forecast a primary budget deficit (in other words, not including debt servicing) of 1.5% for the end of 2012, compared with the 1% target laid down in the second bailout from the EU and IMF. He said the gap was because of the scale of the economic recession (he expected the economy to contract by more than 6% in 2012) and 'serious delays' caused by the May and June general elections. Apart from debt servicing, he said Greece had achieved two-thirds of its budget adjustment target. Pointing out that the recession was due to continue (with the economy expected to shrink by a quarter between 2008 and 2014), he called for Greece to be given more time to sort out its finances. Greek prime minister Antonis Samaras has announced that Greece wants two more years - until 2016 - to bring its public deficit back below the 3% of GDP reference point. (LC/transl.fl)