Greek budget records primary deficit in cash basis in January-April

Greek state budget recorded a primary deficit of 404 million euros -on a cash basis- in the first four months of 2017, from a primary surplus of 2.9 billion euros in the corresponding period in 2016, the Bank of Greece said on Thursday.

The central bank, in a monthly report, said the Greek budget recorded a deficit of 188 million euros -on a cash basis- in the January-April period after a surplus of 205 million in the same period last year.

This development reflected a decline in revenue to 13.5 billion euros in the four-month period from 14.1 billion in 2016, while regular budget spending totaled 16.5 billion euros this year from 14.9 bllion in 2016.