Cash budget primary surplus down in January – February

Greek state budget recorded a smaller primary surplus on a cash basis in the first two months of the year, compared with the corresponding period in 2016, the Bank of Greece said on Friday.

The central bank, in a report, said the cash primary surplus fell to 1.1 billion euros in the January-February period this year from 2.0 billion in 2016.

In January–February 2017, the central government cash balance recorded a surplus of 1,592 million euros, compared to a surplus of 429 million in the same period 2016. During this period, ordinary budget revenue amounted to 7,563 million euros, compared to 7,585 million euros in the corresponding period of last year. Ordinary budget expenditure, including expenditure of about 78 million euros for the repayment of arrears, amounted to 7,701 million euros, from 7,779 million in January-February 2016.