Greek primary surplus rising to 1.19 billion euros in the January-March period

The Greek state budget showed an improved picture, on a cash basis, in the first quarter of the year, with the primary surplus rising to 1.19 billion euros in the January-March period, from a surplus of 771 million euros in the corresponding period last year, the Bank of Greece said on Monday.

The central bank, in a report, said that the state budget deficit eased to 2.0 billion euros in the first three months of 2015 from 2.34 billion in the same period last year.

In January-March 2015, the central government cash balance recorded a deficit of 918 million euros, compared to a deficit of 1.141 billion in the same period in 2014, the central bank said, adding that during this period, ordinary budget revenue amounted to 10.049 billion euros, compared to 10.529 billion in the corresponding period of last year.

Revenue of 55 million euros regarding Securities Markets Programme (SMP) income transfers from the Bank of Greece is excluded from the figures. Ordinary budget expenditure amounted to 11.865 billion euros, from 12.595 billion in January-March 2014.