Greek budget shows primary surplus of 3.157 billion euros in January-August

The Greek state budget showed a primary surplus of 3.157 billion euros in the January-August period, down from a primary surplus of 3.544 billion euros in the same period last year, but up from a budget target for a surplus of 917 million euros.

The Finance Ministry, in an announcement, said that the state budget (general government) showed a deficit of 1.220 billion euros in the eight-month period, down from a budget target for a shortfall of 3.384 billion euros and a deficit of 1.271 billion euros last year. Net revenue was 31.869 billion euros, up 937 million or 3.0 pct from budget targets, while regular budget net revenue was 30.434 billion euros, up 1.102 billion or 3.8 pct from targets.

More specifically, budget revenue exceeded targets in the categories of: special category income tax (5.1 pct), property taxes (5.8 pct), direct taxes (8.4 pct), VAT on oil products (8.8 pct), other transaction taxes (6.9 pct), vehicle registration stamp (14.3 pct), other special consumption taxes (0.8 pct), indirect taxes (20.5 pct), EU receipts (23.3 pct), other non-tax revenue (8.9 pct).

On the other hand, budget revenue fell short of targets in the categories: income tax (0.6 pct), corporate tax (23.7 pct), other indirect taxes (93.0 pct), special consumption tax on energy products (0.7 pct) and privatization revenue (9.1 pct).

Tax returns totaled 2.564 billion euros, down 40.2 million from targets. Public Investment Program revenue was 1.435 billion euros, down 166 million from targets.

State budget spending was 33.089 billion euros in the January-August period, down 1.227 billion from targets. Regular budget spending was 31.612 billion euros, down 304 million from targets, but up 386 million euros compared with the same period last year. Public Investment Program spending was 1.477 billion euros, down 923 million from targets.

In August, budget revenue was 4.480 billion euros, up 624 million from monthly targets, while regular budget net revenue was 4.383 billion euros, up 594 million from monthly targets.

State budget spending was 4.097 billion euros in August, down 536 million from targets, while regular budget spending was 3.853 billion euros, down 370 million from monthly targets.

Source ANA-MPA
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