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Greek state budget recorded a primary surplus of €.460 billion in Q1 2019

The Greek state budget showed a primary surplus of 1.460 billion euros in the January-March period, up from a budget target for a primary surplus of 960 million, but down from a surplus of 1.879 billion euros in the corresponding period in 2018, the Finance ministry said in a report released on Monday.

The general government recorded a deficit of 750 million euros in the first three months of 2019, down from a budget target for a deficit of 3.109 billion euros.

More specifically, net budget revenue totaled 12.003 billion euros in the January-March period, up 12.7 pct from targets, while regular budget revenue was 12.965 billion euros, up 12.1 pct from targets. Tax returns amounted to 962 million euros, up 54 million from quarterly targets, while Public Investment Program revenue was 878 million euros, up 192 million from targets.

State budget spending amounted to 12.754 billion euros in the first quarter, down 1.010 billion from targets, but up 1.094 billion from the same period last year.

Public Investment Program spending was 545 million euros, down 120 million from targets.

In March, net revenue was 4.171 billion euros, up 1.004 billion from monthly targets, while regular budget revenue was 4.502 billion euros, up 1.031 billion from targets.

Public Investment Program revenue was 426 million euros, up 92 million from monthly targets.

Tax returns totaled 331 million euros, up 26 million from targets.

State budget spending was 3.785 billion euros in March, down 444 million euros from monthly targets.

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