Greek state budget showed a primary surplus of 822 mln euros in January-February

The Greek state budget showed a primary surplus of 822 million euros in the January-February period this year, from a target for a primary deficit of 196 million euros and after a primary surplus of 2.695 billion euros recorded in the corresponding period last year.

The state budget (general government) reported a deficit of 1.136 billion euros in the first two months of the year, from a budget target for a deficit of 2.046 billion euros and after a surplus of 1.526 billion euros recorded in the same period in 2018.

More specifically, net budget revenue totaled 7.833 billion euros in the two-month period, up 4.6 pct from budget targets. Regular budget revenue was 8.463 billion euros, up 4.6 pct from targets. Budget revenue exceeded targets in the categories of VAT (up 7.3 pct), special consumption tax on energy products (1.9 pct), income tax (3.6 pct), other income taxes (6.3 pct), capital taxes (112.8 pct), transfer taxes (34.9 pct). Budget revenue fell short of targets in the categories of: VAT on oil products (8.5 pct), VAT on tobacco products (13.5 pct), special consumption tax on tobacco products (6.6 pct), stamp duties (26.9 pct), other tax on production (22.1 pct), taxes on the sale of goods and services (33.9 pct).

Tax returns totaled 631 million euros in the two-month period, up 28 million from targets. Public Investment Programme revenue was 452 million euros, up 100 million from targets.

State budget spending was 8.968 billion euros in the January-February period, down 566 million from targets, but up by 1.575 billion euros from the same period last year. Public Investment Programme spending was 270 million euros in the two-month period, down 110 million euros from targets.

In February, state budget net revenue was 3.726 bllion euros, up 370 million from monthly targets, while regular budget net revenue was 4.113 billion euros, up 433 million from targets.

Tax returns was 387 million euros, up 63 million from targets, while Public Investment Programme revenue was 370 million euros, up 134 million from targets. Budget spending totaled 4.420 billion euros in February, up 201 million euros from monthly targets.

Source ANA-MPA
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