Greek budget shows primary surplus of 4.502 bln euros in January-September

The Greek budget showed a primary surplus of 4.502 billion euros in the January-September period, up from a surplus of 3.806 billion in the same period last year and a budget target for a surplus of 4.556 billion.

The finance ministry, in a report on provisional budget execution data, said that on an amended cash basis, the state budget showed a deficit of 367 million euros in the nine-month period, from a shortfall of 1.052 billion in 2016 and a budget target for a deficit of 292 million euros.
Net revenue was 35.989 billion euros, down 6.2 pct from budget targets, while regular budget net revenue was 34.718 billion, down 6.2 pct from targets.

The Finance ministry attributed this development to increased tax returns (up 22.6 pct from annual targets) and a one-month delay in payment of a special property tax in September.

Public Investment Programme revenues totaled 1.271 billion euros, down 101 million from budget targets.
State budget spending was 36.356 billion euros in the January-September period, down 2.316 billion from targets. Regular budget spending was 34.579 billion euros, down 1.594 billion from targets, and down 1.717 billion compared with the same period last year. Public Investment Programme spending was 1.777 billion euros, down 722 million from targets.

In September, net revenue was 4.556 billion euros, down 644 million from monthly targets, regular budget net revenue was 4.476 billion euros, down 525 million from targets. Public Investment Programme revenue was 80 million euros, down 119 million from monthly targets. Tax returns totaled 1.512 billion euros, up 1.294 billion from monthly targets.

State budget spending was 3.653 billion euros, down 613 million from monthly targets, while regular budget spending was 3.459 million euros, down 411 million from targets. Public Investment Programme spending was 194 million euros, down 203 million from monthly targets.