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Economy

Greek State Budget Showed Primary Deficit of €8.167B in Jan-May

ATHENS — The Greek state budget recorded a deficit of 10.828 billion euros in the January-May period, up from a budget target for a deficit of 9.769 billion euros and a shortfall of 7.494 billion euros in the same period last year, official figures showed on Tuesday.

The state budget recorded a primary deficit of 8.167 billion euros in the five-month period, up from a budget target for a deficit of 7.169 billion euros and a primary shortfall of 4.843 billion euros in 2020, the State's General Accounting Office said in a report. State budget net revenues totaled 18.290 billion euros in the January-May period, down 1.4 pct from budget targets, while regular budget net revenues were 19.934 billion euros, down 1.4 pct from targets. Tax revenues amounted to 16.920 billion euros, down 0.8 pct from targets, while tax returns totaled 1.644 billion euros, down 22 million euros from targets. Public Investment Programme revenue was 1.683 billion euros, down 254 million from targets.

Budget spending amounted to 29.118 billion euros in the five-month period, up 2.8 pct from targets. Public Investment Programme spending was up 1.819 billion euros from targets.

In May, state budget net revenues were 3.165 billion euros, up 209 million from monthly targets, while regular budget revenues amounted to 3.466 billion euros, up 141 million from targets. Tax revenues were 2.981 billion euros, up 1.6 pct from monthly targets, while tax returns totaled 301 million euros, down 68 million euros from monthly targets. Public Investment Programme spending was 340 million euros, up 90 million from targets.

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