Greek budget showed primary surplus of 6.435 billion euros in January-October

The Greek state budget recorded a primary surplus of 6.435 billion euros in the January-October period, exceeding a budget target for a surplus of 4.749 billion euros and up from a primary surplus of 5.330 billion euros in the same period last year, the finance ministry said in a report released on Monday.

The state budget balance showed a surplus of 1.625 billion euros in the 10-month period, from a budget target for a deficit of 62 million euros and a surplus of 144 million in the same period last year.

Net revenue was 42.411 billion euros, up 0.2 pct from targets, while regular budget net revenue was 40.725 billion euros, up 0.2 pct from targets.

More specifically, budget revenue exceeded targets in the categories of corporate income tax (2.6 pct), property tax (0.8 pct), VAT on oil products (0.8 pct), other consumption taxes (5.9 pct), indirect taxes (5.6 pct) and other non-tax revenue (0.9 pct). On the other hand, revenue fell short of targets in the categories of: direct taxes (3.9 pct), VAT on others (0.2 pct) and other VAT on tobacco, etc (1.3 pct).

Tax returns totaled 3.097 billion euros in the January-October period, while Public Investment Programme revenue was 1.686 billion euros, both unchanged from budget targets.

State budget spending totaled 40.786 billion euros in the 10-month period, down 1.621 billion euros from targets, while regular budget revenue was 38.697 billion euros, down 300 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, net revenue was 5.197 billion euros, up 67 million from monthly targets, while regular budget revenue was 5.080 billion, up 66 million from targets. Public Investment Programme revenue totaled 117 million euros, unchanged from targets, while tax returns were 146 million euros (unchanged from monthly targets).

State budget spending was 3.850 billion euros in October, down 657 million from monthly targets, while regular budget spending was 3.433 billion euros, down 574 million from targets. Public Investment Programme spending was 417 million euros, down 83 million from targets.

Source ANA-MPA
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