Greek Budget Shows Primary Surplus of 2.087 Billion Euros in Jan-July

Athens Stock Market. (Photo by Eurokinissi/Eleni Kouri)

The Greek state budget showed a primary surplus of 2.087 billion euros in the January-July period, up from a budget target for a surplus of 929 million euros, the Finance Ministry said on Tuesday, but down from a primary surplus of 3.024 billion euros in the same period last year.

This year an additional 213 million and 230 million were distributed as the social solidarity subsidy and the family benefits, respectively, while state expenditures also rose from the same period last year by 325 million euros.

In a report on budget execution in an amended cash basis, the ministry said the state budget showed a deficit of 1.563 billion euros in the six-month period, from a budget target for a shortfall of 2.608 billion and a deficit of 1.351 billion euros in the same period last year.

State budget net revenue amounted to 27.429 billion euros, up 1.3 pct from targets, while regular budget net revenue was 26.092 billion, up 2.2 pct from targets.

State budget spending totaled 28.992 billion euros in the January-July period, down 691 million from targets, while regular budget spending was 27.759 billion euros, up 66 million from targets.

In July, state budget net revenue was 4.715 billion euros, up 109 million from monthly targets, while regular budget net revenue was 4438 billion, up 187 million from targets. Public Investment Programme spending was 277 million euros, down 78 million from targets.