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Greece January-April primary surplus 2.29 billion euros

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Staff Writer |
Greece factory
Europe   State budget net revenues exceeded the target by 8.1%

Greece slightly revised its January-April budget execution figures from the preliminary data which were released on May 14.

On a modified cash basis, state budget posted a primary surplus of 2.29 billion euros, above the budget target which is for a surplus of 374 million euros. In the respective period of 2017, the primary position was positive by 1.73 billion euros.

The budget balance was positive by 145 million euros compared to the budget target of 1.76 billion euros in deficit.

State budget net revenues exceeded the target by 8.1% or 1.15 billion euros, amounting to 15.5 billion euros. In April alone, net revenues outperformed the monthly target by 222 million euros.

Ordinary revenues which exclude receipts from social security organisations and local governments outperformed the target by 641 million euros, reaching to 14.4 billion euros. April ordinary revenues exceeded the monthly target by 235 million euros.

Tax refunds amounted to 1.3 billion euros, or 210 million euros above the target.

PIB revenues stood at 1.09 billion euros, 516 million euros above the budgeted target, while state spending amounted to 15.3 billion euros, 751 million euros below target.

Also, PIB spending reached 504 million euros, falling short of the target by 556 million euros.

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