The European Commission has announced it will send “in the next few days” a team of experts to Athens tasked with concluding work on a new rescue package for debt-ridden Greece by the end of the month.

“Staff of the European Commission will return to Athens in the coming days to provide technical support to the Greek authorities in their ongoing work,” said EU economy commissioner Olli Rehn in a statement on Sunday.

“Once Greece meets the conditions, I expect the review by the troika could be concluded by the end of September,” he said, referring to the Commission, the European Central Bank and International Monetary Fund.

The Commission’s comments came after Greece announced on Sunday new budget cuts to reduce its public deficit.

Greek Finance Minister Evangelos Venizelos said a two billion euro ($A2.6 billion) shortfall had to be covered for the country to be able to meet its obligations while unveiling a special tax on real estate.

The minister told Greek television this “new national effort” was crucial given the unfavourable perception of Greece abroad, with renewed rumours of a debt default or Greece’s possible exit from the eurozone.

Rehn hailed the Greek government’s decisions, which “will go a long way in to meeting the fiscal targets” this year and next, he said.

“Greece needs to meet the agreed fiscal targets and implement the agreed structural reforms to fulfil the conditionality and ensure funding from its partners,” Rehn said.

AFP a