Hole EUR 4.153 bn in revenue

Hole EUR 4.153 bn in revenue

Athens, September 25, 2015/Independent Balkan News Agency

By Spiros Sideris

Figures reveal a primary surplus of EUR 3.798 billion for the Greek budget during the eight months January-August 2015 period, compared to the EUR 1.946 billion primary surplus in the same period of 2014 and the surplus target of EUR 3.264 billion.

This emerges from the figures for the execution of the state budget that were made public, according to which, the general government deficit in the first eight months amounted to EUR 1,104 billion, against a deficit of EUR 2.849 billion in the respective period of 2014 and a deficit target of EUR 1,694 billion.

More specifically, according to the figures from the General Accounting Office:

The amount of net revenue of the state budget amounted to EUR 30.765 billion, decreased by EUR 4.153 billion, or 11.9% against a target, of which:

– EUR 1.724 billion refers to the shortfall in revenue from transportation efficiencies of holding Greek government bonds in the portfolios of central banks of the Eurosystem (ANFAs & SMPs), and

– EUR 917 million is for the shortfall in taxation on Property, and is due to non-establishment and collection of the first two tranches of ENFIA.

Net revenues of the ordinary budget amounted to EUR 28.699 billion, down by EUR 4.070 billion, or 12.4% of the target.