Greek budget revenues surpassed targets by 1.918 billion euros in 2015

Greek budget revenues surpassed targets by 1.918 billion euros (cash basis) in 2015 according to figures released on Friday, strengthening the government’s position ahead of the beginning of negotiations with its creditors on the pension issue and the fiscal situation to complete the first review of Greece’s economic adjustment programme.

The figures also boosted government hopes of presenting a primary surplus in 2015. Finance ministry sources said that this development was strengthening the government’s negotiating position as it offered room for manoeuvre in achieving fiscal goals set for the period 2016-2018.

The state budget reported a primary surplus of 2.267 billion euros on a cash basis in 2015, from a primary surplus of 1.872 billion 2014, down from a revised budget target for a surplus of 3.257 billion euros. The general government’s deficit was 3.533 billion last year, from a shortfall of 3.697 billion in 2014 and a revised budget target for a deficit of 2.573 billion.

State budget net revenue was 51.418 billion euros in 2015, down 3.2 pct from targets, reflecting non-collection of ANFA’s and SMP’s (3.591 billion euros). Net regular budget revenue was 46.586 billion euros in 2015, down 4.2 pct from budget targets.

Public Investment Programme revenue amounted to 4.832 billion euros, up 359 million from targets.