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Since August, when the deficit estimate was $475 billion, the rate has dropped from about 4.4percentt.
That sum makes last year's NHS deficit estimate of 2bn look like a drop in the ocean.
The new deficit estimate is due to the slumping economy, which has cut revenues from taxes and fare and toll collections.
Some economists think that the deficit-reduction effort will nevertheless be greater, because of upward revisions to the 2010 deficit estimate.
Mr Papaconstantinou, whose government has pledged to cut the deficit this year by 4 percentage points, has raised the 2009 deficit estimate to 12.9 percent.
Relying on optimistic economic assumptions, including the lowest deficit estimate ($75 billion) for more than 20 years, the deal included $135 billion in gross tax cuts.
Similar(44)
Another of the major concerns is the pensions deficit, estimated to reach £10bn soon.
Those measures are meant to help overcome a 2009 deficit estimated at $1.2 billion.
BT has a deficit estimated at 21% of its total value on the stock market.
The problem for lawmakers is that even when they fix a deficit estimated at up to $4 billion between now and April 1, there will be more deficits estimated at $10 billion next year.
Now, his economic team has to face a 1998 deficit estimated at $3.3 billion-4 billion.
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