Finance Ministry: Greek budget showed primary surplus of 1.967 bln euros in 2017

The Greek state budget recorded a primary surplus of 1.967 billion euros in 2017, from a surplus of 2.778 billion in the previous year and a budget target for a primary surplus of 877 million, the finance ministry said in a report released on Tuesday.

According to preliminary budget execution figures, on an amended cash basis, the state budget recorded a deficit of 4.241 billion euros in the 12-month period in 2017, up from a deficit of 2.81 billion in 2016 but down from a budget target for a shortfall of 5.123 billion euros.

Net revenue amounted to 51.274 billion euros, down 1.7 pct from targets, while regular budget net revenue was 48.825 billion euros, up 0.2 pct from targets. Tax returns totaled 5.360 billion euros, down 217 million euros from targets, while Public Investment Programme revenue amounted to 2.449 billion euros, down 978 million from targets.

State budget spending amounted to 55.515 billion euros in the January-December 2017 period, down 1.749 billion from targets, while regular budget spending amounted to 49.565 billion euros, down 949 million from targets and down 1.118 billion euros from 2016. Public Investment Programme spending was 5.959 billion euros, down 800 million from targets.

In December, state budget net revenue was 6.143 billion euros, down 710 million from monthly targets, while regular budget net revenue was 5.076 billion, down 396 million from monthly targets. Tax returns totaled 518 million euros in December, down 170 million euros from targets. Public Investment Programme revenue was 1.067 billion euros, down 314 million from monthly targets.

State budget spending totaled 9.611 billion euros, down 18 million from monthly targets, while regular budget spending was 6.719 billion euros, down 36 million from targets. Public Investment Programme spending was 2.892 billion euros, down 18 million from targets.