Greek budget shows 2.123 bln euros primary surplus in January-February

The Greek state budget, based on provisional amended cash basis data, showed a surplus of 423 million euros in the January-February period this year, from a surplus of 1.135 billion euros in the same period in 2016 and a budget target for a deficit of 806 million, while the budget showed a primary surplus of 2.123 billion euros from a primary surplus of 2.853 billion in the corresponding period last year and budget target for a surplus of 864 million euros.

State budget net revenue was 8.332 billion euros in the two-month period, up 198 million or 2.4 pct from budget targets. Regular budget net revenue was 7.981 billion euros, up 409 million euros or 5.4 pct from budget targets. Revenue returns amounted to 645 million euros, up 100 million from targets, while Public Investment Programme revenue was 351 million euros, down 212 million from targets.

In February, state budget net revenue was 4.168 billion euros, up 25 million from monthly target, while regular budget net revenue was 3.934 billion, up 78 million from targets. The Greek state collected a 734-mln-euro dividend payment from the Bank of Greece in February. Public Investment Programme revenue was 234 million euros in February, down 53 million from targets, while revenue returns were 331 million euros, up 83 million from monthly targets.

State budget spending in the January-February period was 7.909 billion euros, down 1.031 billion from budget targets, while regular budget spending was 7.735 billion, down 836 million from targets. Regular budget spending was down 393 million euros compared with the same period last year. Public Investment Programme spending was 174 million euros, down 196 million from targets.

In February, budget spending was 4.583 billion euros, down 894 million from monthly targets, while regular budget spending was 4.436 billion euros, down 817 million from targets. Public Investment Programme spending was 148 million euros, down 77 million from monthly targets.