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This could mean further cuts are needed before long.
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"[But] the data does not change our view that further rate cuts are needed to lift the non-mining economy as mining investment drags on growth," she said.
The bailout lenders - the eurozone, the IMF and the European Central Bank - have disputed some of the Greek government's figures, arguing that further spending cuts are needed.
It says the cuts are needed because funds from central government have been cut by £15m over the past two years, with a further reduction of £25m expected by 2015.
Job cuts are needed.
More and deeper cuts are needed.
More cuts are needed.
So cuts are needed.
Perhaps more cuts are needed".
Giving its annual verdict on the sustainabllity of the public finances over the next 50 years, the independent body said the worsening financial burden could mean further tax rises or spending cuts were needed after the chancellor's current round is completed.
But he then argued that a further interest rate cut was needed.
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