Greek primary surplus for January at €835mln

Greek primary surplus for January at €835mln


Review Hari Stefanatos

According to a financial ministry report issued on Monday, the Greek state budget recorded a primary surplus of €835 million in January compared to the €415 million surplus in 2013. The budget provision was for a surplus of €955 million.

The general government surplus for the same period was recorded at €619 million compared to last year’s €177 million surplus, with the net state budget revenues totaling €4.45 billion in January, down 7.3% from the budget’s target. The budget provision was again a little higher at €719 million.

The net regular budget revenues totaled €4.418 billion, down 5.3% from the budget’s target.

“The budget execution confirmed that fiscal targets will be achieved this year”, the finance ministry mentions in the report. The ministry noted that the primary surplus , after excluding the support of financial institutions, was €3.918 billion in January, which represents 2.1% of the country’s GDP. Based on the methodology of the Economic Policy Programme, the general government’s primary surplus is expected to reach €812 million, or 0.4% of GDP.

(Source AMNA)