13122018Headline:

Greek budget primary surplus at 2.320 billion euros in Jan-March

The Greek state budget primary surplus totaled 2.320 billion euros in January-March this year, up from a budget target for a primary surplus of 1.096 billion euros and a primary surplus of 1.070 billion in the same period last year, the Finance ministry said on Monday.

In a report on the provisional state budget execution data, on an amended cash basis, the budget showed a surplus of 408 million euros in the three-month period from a budget target for a deficit of 816 million euros and a shortfall of 1.364 billion euros in the same period in 2017.

State budget net revenue was 12.112 billion euros, up 7.9 pct from budget target, while regular budget net revenue was 11.052 billion euros, up 3.4 pct from targets. Tax returns totaled 1.079 billion euros, up 227 million from budget targets, while Public Investment Programme’s revenue was 1.060 billion euros, up 529 million from targets.

Budget spending in the January-March period totaled 11.704 billion euros, down 335 million from targets, while regular budget spending was 11.356 billion euros, down 2.0 million from targets. State budget spending was down 1.077 billion euros compared with the same period last year. Public Investment Programme’s spending was 348 million euros in the three-month period, down 332 million from targets.

In March, the state budget showed a net revenue of 3.138 billion euros, down 244 million from monthly targets, while regular budget net revenue was 2.753 billion euros, down 315 million from targets. Public Investment Programme’s revenue was 385 million euros, up 71 million euros from targets.

Tax returns was 360 million euros, up 117 million from monthly targets. State budget spending was 4.271 billion euros in March, down 25 million from monthly targets, while regular budget spending was 4.111 billion euros, up 110 million from targets. Public Investment Programme’s spending was 161 million euros, down 134 million from targets.