Finance ministry: Greek budget records primary surplus of 4.392 bln euros in 2016

Greek state budget recorded a primary surplus of 4.392 billion euros in 2016, surpassing a primary surplus of 2.270 billion in 2015 and a budget target for surplus of 1.983 billion euros, the Finance ministry said on Tuesday.

Regular budget net revenue surpassed budget targets by 1.8 billion euros in the 12-month period, while Public Investment Programe’s spnding totaled 2.8 billion euros in December, a significant increase compared with previous months. In December, tax returns surpassed targets by 180 million euros, money channeled to the real economy.

The state budget showed deficit of 1.185 billion euros in 2016 (general government), from a shortfall of 3.530 billion in 2015 and a budget target for a deficit of 3.617 billion euros.

State budget net revenue totaled 53.968 billion euros, up 3.1 pct from targets, while regular budget net revenue rose 3.8 pct to 49.796 billion euros.

Revenue returns totaled 3.265 billion euros, down 22 million from targets. Public Investment Programe revenue amounted to 4.172 billion euros, down 204 million from targets.

In December, state budget net revenue totaled 6.026 billion euros, up 114 million from monthly targets, while regular budget net revenue totaled 5.144 billion euros, up 372 million from monthly targets. Public Investment Programe’s revenues totaled 883 million euros, down 258 million from targets.

Revenue returns in December totaled 584 million euros, up 180 million euros from monthly targets.

State budget spending amounted to 55.153 billion euros in the January-December 2016 period, down 817 million from targets. Regular budget spending totaled 48.865 billion euros, down 354 million from targets, but up 320 million compared with 2015.

Public Investment Programe’s spending was 6.288 billion euros in 2016, down 462 million from targets.

In December, state budget spending was 9.234 billion euros, up 1.556 billion from monthly targets, while regular budget spending totaled 6.423 billion euros, up 935 million from targets. Public Investment Programe’s spending was 2.811 billion euros, up 621 million euros from monthly targets.