Greek budget shows primary surplus of 4.795 billion euros in January-September

The Greek state budget recorded a primary surplus of 4.795 billion euros in the January-September period, up from a budget target for a surplus of 2.521 billion and a primary surplus of 4.542 billion euros in the same period last year, the finance ministry said in a report released on Wednesday.

The report on budget execution on an amended cash basis showed that the state budget recorded a surplus of 278 million euros in the nine-month period from a budget target for a deficit of 1.841 billion and a shortfall of 327 million in the same period last year.

State budget net revenue was 37.214 billion euros, up 576 million or 1.6 pct from budget targets in the January-September period, while regular budget revenue was 35.645 billion euros, up 1.009 billion or 2.9 pct from targets.

Budget revenues exceeded targets in special categories income tax (4.0 pct), direct taxes (8.2 pct), VAT on oil products (8.8 pct), other VAT (2.4 pct), taxes on other transactions (5.7 pct), insurance tax (3.5 pct), car registration duties (5.3 pct), other consumption taxes (14.9 pct), indirect taxes (22.8 pct), EU receipts (21.6 pct) and other non-tax income (6.2 pct). On the other hand, tax revenue fell short of targets in income tax (3.3 pct), corporate taxes (10.5 pct), property taxes (1.2 pct), other indirect taxes (5.7 pct), special consumption taxes on energy products (1.3 pct), other special consumption taxes (0.5 pct) and privatisation revenue (14.4 pct).

Tax returns totaled 2.951 billion euros in the nine-month period, down 507 million from targets. Public Investment Programme revenue was 1.569 billion euros, down 433 million from targets.

State budget spending totaled 36.936 billion euros in the nine-month period, down 1.543 billion from targets, while regular budget spending totaled 35.264 billion, down 305 million from targets. State budget spending was up 582 million euros from the same period last year, while Public Investment Programme spending was 1.672 billion euros, down 1.238 billion from targets.

In September, state budget net revenue was 5.345 billion euros, down 360 million from monthly targets, while regular budget revenue was 5.211 billion, down 93 million from targets. Public Investment Programme revenue was 134 million euros, down 267 million from targets. Tax returns were 387 million euros, down 105 million from targets.

Budget spending was 3.847 billion euros in September, down 316 million from targets, while regular budget spending was 3.652 billion, down 1.0 million from monthly targets. Public Investment Programme spending totaled 195 million euros, down 315 million from targets.

Source ANA-MPA
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