Greek state budget showed a primary surplus of 3.550 billion euros in the January-August period, from a primary surplus of 2.117 billion in the same period last year and a budget target for a surplus of 3.573 billion, the Finance ministry said in a report released on Thursday.
The ministry attributed the less-than-expected surplus to the one-month delay in the payment of a property tax in September, instead of August (worth 1.0 billion euros), while it noted that tax returns surpassed targets by 469 million euros.
In an amended cash basis, the general government’s deficit was 1.265 billion euros in the eight-month period, from a deficit of 2.684 billion in 2016 and a budget target for a shortfall of 1.226 billion.
State budget net revenue was 31.439 billion euros, down 5.2 pct from budget targets, while regular budget net revenue was 30.248 billion euros, down 5.5 pct from targets.
Tax returns totaled 2.565 billion euros, up 469 million from targets. Public Investment Program’s revenue was 1.190 billion euros, up 17 million from budget targets.
State budget spending was 32.703 billion euros in the January-August period, down from a budget target of 34.406 billion. Regular budget spending was 31.121 billion euros, down 1.183 billion from targets and down 1.438 billion euros compared with the same period last year. Public Investment Program’s spending was 1.583 billion euros, down 519 million from targets.
In August, state budget net revenue was 4.123 billion euros, down 1.105 billion from monthly targets, while regular budget revenue was 3.998 billion, down 1.077 billion from targets. Public Investment Program’s revenue was 126 million euros, down 28 million from targets.
State budget spending was 4.036 billion euros in August, down 137 million from monthly targets, while regular budget spending was 3.567 billion euros, down 140 million from targets. Public Investment Program’s spending was 469 million, up 3.0 million from monthly targets.