Greek budget showed primary surplus of 1.852 billion euros in January

The Greek budget showed a surplus of 1.577 billion euros in January, up from a budget target for a surplus of 503 million euros and a surplus of 839 million euros in January last year

The finance ministry, in a report on budget execution on an amended cash basis, said that the primary surplus was 1.852 billion euros in January, from a budget target for a primary surplus of 722 million and a primary surplus of 1.019 billion in January 2017.

State budget net revenue totaled 4.753 billion euros in January, up 22.1 pct from monthly targets, while regular budget net revenue was 4.148 billion euros, up 9.5 pct from monthly targets. This increase was attributed to higher revenues in income tax (+3.5 pct), corporate income tax (+193.2 pct), property taxes (+4.4 pct), direct taxes (+21.8 pct), transaction taxes (+50.3 pct), special consumption taxes (+8.0 pct), indirect taxes (+41.8 pct), EU inflows (+2,621.3 pct) and NATO revenues. On the other hand, tax revenue fell short of monthly targets in energy product consumption taxes (-8.0 pct) and other non-tax revenue (-9.2 pct).

Tax returns totaled 325 million euros in January, down 6.0 million euros from monthly targets. Public Investment Programme revenue was 604 million euros, up 498 million from targets.

State budget spending amounted to 3.176 billion euros in January, down 215 million from targets, while regular budget spending was 3.092 billion euros, down 123 million from targets. Regular budget spending was down 206 million euros compared with the same month last year. Public Investment Programme spending was 83 million euros in January, down 92 million from monthly targets.