Jan-Oct pri­mary bud­get sur­plus ex­ceeds tar­get

Kathimerini English - - Focus -

Greece’s cen­tral govern­ment reg­is­tered a pri­mary bud­get sur­plus of 6.49 bil­lion eu­ros in the 10 months to Oc­to­ber, beat­ing its tar­get by 5.2 bil­lion eu­ros thanks to higher tax rev­enues, Fi­nance Min­istry data showed yes­ter­day. The cen­tral govern­ment sur­plus ex­cludes the bud­gets of so­cial se­cu­rity or­ga­ni­za­tions and lo­cal ad­min­is­tra­tion. It is dif­fer­ent from the fig­ure mon­i­tored by Greece’s eu­ro­zone/In­ter­na­tional Mon­e­tary Fund lenders, but in­di­cates the state of the coun­try’s fi­nances. The govern­ment’s tar­get was for a pri­mary bud­get sur­plus – which ex­cludes debt-ser­vic­ing costs – of 1.79 bil­lion eu­ros for the Jan­uary-Oc­to­ber pe­riod. Net tax rev­enue came in at 40.07 bil­lion eu­ros, 2.39 bil­lion eu­ros above tar­get, while spend­ing stood at 41.5 bil­lion eu­ros, 3.23 bil­lion eu­ros be­low tar­get. Septem­ber and Oc­to­ber have been tra­di­tion­ally strong in tax rev­enue as Greeks start pay­ing prop­erty and in­come taxes.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.