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Greece’ state budget shows mammoth primary surplus €6.46bn Jan-Oct

Greece’s state budget showed a primary surplus of 6.46 billion euros in the January-October period, up from a budget target for a surplus of 3.584 billion euros and up from a primary surplus of 5.33 billion euros in the same period last year, the Finance Ministry said in a report released on Wednesday.

More specifically, according to provisional budget execution figures on an amended cash basis, the general government balance showed a surplus of 1.650 billion euros in the 10-month period, from a medium-term programme target for a deficit of 1.127 billion and a surplus of 144 million in the corresponding period in 2017.

Net revenue was 42.436 billion euros, up 839 million or 2.0 pct from budget targets, while regular budget net revenue was 40.753 billion euros, up 4.0 pct from targets.

Tax returns totaled 3.097 billion euros down 770 million from targets. Public Investment Programme revenue was 1.683 billion euros in the January-October period, down 746 million from targets.

State budget spending was 40.786 billion euros in the 10-month period, down 1.939 billion from targets, while regular budget spending was 38.96 billion euros, down 618 million from targets. Spending was up by 358 million euros compared with the same period last year. Public Investment Programme spending was 2.089 billion euros, down 1.321 billion from targets.

In October, state budget net revenue totaled 5.222 billion euros, up 263 million from monthly targets, while regular budget revenue was 5.108 billion, up 576 million from monthly targets. Public Investment Programme revenue was 114 million euros, down 314 million from targets. Tax returns totaled 146 million euros, down 262 million from targets.

State budget spending was 3.433 billion in October, down 396 million from monthly targets, while regular budget spending was 3.433 billion, down 313 million from targets. Public Investment Programme spending was 417 million euros, down 83 million from targets. via amna.gr

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