At EUR 4.532 bn the primary surplus for the 10 months of 2015

At EUR 4.532 bn the primary surplus for the 10 months of 2015

Athens, November 26, 2015/Independent Balkan News Agency

By Spiros Sideris

The Ministry of Finance announced that the primary balance stood at a surplus of EUR 4.532 billion in the 10-month period of this year, compared to the primary surplus of EUR 2.654 billion for the same period in 2014 and the revised target for a primary surplus of EUR 2.424 billion.

The primary surplus increased due to the significant reduction in government expenditure, excluding the interest for the servicing of the debt, which surpassed the decrease in revenue.

The state budget expenditure amounted to EUR 40.548 billion, down by EUR 4.194 billion against the target (EUR 44,742 mln).

In particular, the expenditure of the regular budget amounted to EUR 37.727 billion and are down by EUR 3.165 billion against the target, mainly due to a reduction in primary expenditure of EUR 2.822 billion and cash expenditures for armament programs by EUR 395 million.

The expenditure of the regular budget appear reduced compared to the corresponding period of 2014 by EUR 1.923 billion or 4.9%, despite the fact that an extra EUR 33 million have been paid for NHS doctors’ extra shifts, EUR 101 million for returns the European Union, EUR 68 million for emergency financial assistance to address the humanitarian crisis, EUR 92 million euro for Agriculture subsidies, EUR 24 million for heating allowance, EUR 22 million for grants of transport bodies, and EUR 19 million for election expenses.

The expenditure of the Public Investment Budget (PIB) amounted to EUR 2.821 billion, down by EUR 1.029 billion against the target (EUR 3.850 mln) and a decrease of EUR 1.297 billion compared to the same period last year.

Especially for October, the expenditure are the state budget amounted to EUR 4,352 billion, down by EUE 312 million against the monthly target, while expenditure of the ordinary budget amounted to EUR 3.702 billion and have decreased by EUR 523 million against the monthly target. The expenditure of the Public Investment Budget (PIB) amounted to EUR 651 million, increased by EUR 211 million against the monthly target, mainly due to the co-financed part.