Greek state budget primary surplus up in Jan-June‏

Gazzetta team 14 Ιουλίου 2015 - 18:13

Greece’s state budget primary surplus grew further to 1.876 billion euros in the January-June period this year, from a primary surplus of 707 million euros in the same period in 2014 and from a budget target for a primary surplus of 1.235 billion.

According to preliminary budget execution data, on an amended cash basis, the state budget showed a deficit of 1.422 billion euros in the six-month period, from a deficit of 2.419 billion euros last year.

Net budget revenue totaled 21.820 billion euros, down 4.0 pct from targets, while regular budget revenues totaled 19.791 billion euros, down 7.8 pct from targets. Tax returns reached 1.328 billion euros in the six-month period, down 123 million euros from targets. Public Investment Program revenue surpassed targets by 759 million euros to 2.029 billion in the January-June period.

In June, net state budget revenues fell 10 pct from targets, while regular budget revenues dropped 20 pct from monthly targets and tax returns fell short of targets by 19 pct. Public Investment Program revenues grew by 342 million euros.

State budget spending totaled 23.242 billion euros, down 4.090 billion euros from targets, while regular budget spending reached 22.088 billion euros, down 3.044 billion from targets. Regular budget spending fell short by 6.7 pct from targets, while Public Investment Program spending reached 1.154 billion euros, down from a budget target of 2.20 billion and down by 1.208 billion euros compared with the same period last year.

In June, state budget spending reached 3.218 billion euros, down 1.462 billion from monthly targets, while regular budget spending totaled 3.035 billion, down 1.104 billion from targets.