The Greek state budget showed a primary surplus of 1.842 billion euros in the January-May period, up from a primary surplus of 1.456 billion in the same period last year and a budget target for a surplus of 1.050 billion, official figures said on Wednesday.
A report on state budget execution, on an amended cash basis, showed that the general government’ deficit was 1.240 billion euros in the five-month period, from a shortfall of 1.649 billion in 2016 and a budget target for a deficit of 2.033 billion euros.
Net revenue was 18.684 billion euros, up 1.0 million euros from targets, while regular budget net revenue was 17.917 billion euros, down 3.0 million from budget targets.
Tax returns totaled 1.573 billion euros in the five-month period, up 107 million from targets, while Public Investment Programme revenue totaled 767 million euros, up 4.0 million from targets. In particular, state budget net revenue in May was 3.384 billion euros, down 5.0 million from monthly targets. Regular budget net revenue was 3.359 billion euros in May, down 8.0 million from targets, while Public Investment Programme revenue was 25 million, up 4.0 million euros from targets. Tax returns grew 107 million euros to 311 million euros.
State budget spending was 19.924 billion euros in the five-month period, down 793 million euros compared with targets. Regular budget spending was 19.169 billion euros, down 793 million from targets. Regular budget spending was down 584 million euros compared with the same period in 2016. Public Investment Programme spending was 755 million euros, unchanged from targets.
In May, state budget spending was 3.482 billion euros, down 793 million from monthly targets, while regular budget spending was 3.262 billion, down 793 million from targets. Public Investment Programme spending was 220 million euros, unchanged from May 2016.