Greek budget records 4.532 bln euros primary surplus in Jan-Oct

Gazzetta team 25 Νοεμβρίου 2015 - 12:54

Greek state budget reported a primary surplus of 4.532 billion euros in the January-October period, from a primary surplus of 2.654 billion in the same period last year and a revised target for a surplus of 2.424 billion euros, the Finance ministry said on Wednesday.

In a report, on budget execution on a amended cash basis, the ministry said that the state budget showed a deficit of 793 million euros in the 10-month period, from a deficit of 2.448 billion in 2014 and a revised target for a deficit of 2.881 billion euros.

State budget net revenue totaled 39.755 billion euros, down 5.0 pct from a revised target, while regular budget net revenue totaled 36.660 billion euros, down 4.9 pct from targets (refleting an 1.867 bln euros shortfall in revenue from ANFAs and SMPs.

In the January-October period, tax revenue surpassed targets in direct special categories tax by 1.8 pct, property taxes by 12 pct, other direct taxes by 1.7 pct and special energy product taxes by 1.4 pct. On the other hand, tax revenue fell short of targets in income tax for individuals (3.6 pct), corporate tax (4.1 pct), other consumption taxes (2.0 pct) and other non-tax revenue (2.3 pct).

Tax returns totaled 2.277 billion euros in the 10-month period, down 344 million from revised targets, while Public Investment Programme revenue totaled 3.095 billion euros down 208 million from revised targets.

State budget spending totaled 40.548 billion euros, down 4.194 billion from a revised budget target, while regular budget spending totaled 37.727 billion, down 3.165 billion from targets (reflecting a decline of primary spending by 2.822 billion and defense spending by 395 million).

Regular budget spending were down 4.9 pct from the same period last year. Public Investment Programme spending totaled 2.821 billion euros, down 1.029 billion from revised targets and down 1.297 billion from the same period last year.

In October, state budget revenue amounted to 5.465 billion euros, down 57 million from revised monthly targets, while regular budget revenue amounted to 4.438 billion euros, up 150 million from targets.

Tax returns totaled 255 million euros in October, down 121 million from revised budget targets.

Spending totaled 4.352 billion euros in October, down 312 million from monthly targets, while regular budget spending amounted to 3.702 billion, down 523 million. Finally, Public Investment Programme spending amounted to 651 million euros, up 211 million from targets.