Primary surplus target surpassed by EUR 1.7 bn

Primary surplus target surpassed by EUR 1.7 bn

Athens, December 17, 2015/Independent Balkan News Agency

By Spiros Sideris

The primary surplus target has been surpassed by EUR 1.7 bn in the state budget for the period January – November, with a recorded deficit in the balance of the state budget at EUR 1.236 bn, against a deficit of EUR 1.827 bn in the respective period of 2014 and the revised target for a deficit of EUR 3,001 million. Indeed, especially in November, the net ordinary revenues amounted to EUR 4.379 bn, up against the Monthly target by EUR 512 mln.

In particular, the primary surplus for the 11 months stood at EUR 4.348 bn, compared to a primary surplus of 3.566 bn in the same period of 2014 and the revised target for a primary surplus of EUR 2.651 bn.

The amount of net revenue of the state budget was EUR 44 945 bn, down by EUR 1.309 bn or 2.8% against the target. Net ordinary revenues were EUR 41.039 bn, down by EUR 1.354 bn or 3.2% compared to the target, while the shortfall in revenue from transfer of efficiencies from holding bonds in the portfolios of central banks of the Eurosystem (ANFAs and SMPs) comes to EUR 1.867 bn.

The revenue returns dropped to EUR 2.584 bn, a decrease of EUR 104 mln against the target (EUR 2.688 bn).

The revenues of the Public Investment Programme amounted to EUR 3.906 mln, up by EUR 45 mln against the target.

In particular, in November 2015 the total net revenues of the state budget amounted to EUR 5.190 bn, an increase of EUR 558 mln compared to the monthly target. The net ordinary revenues were EUR 4.379 mln, up against the monthly target of EUR5 12 million.

The revenue returns in November was EUR 307 mln, a decrease of EUR 104 mln against the monthly target (410 m. Euros).

The state budget expenditure was EUR 46.181 mln and have decreased by EUR 3.074 mln against the target (49,255 mil. Euros). The regular expenditure stood at EUR 42.485 mln down by EUR 2.340 million. target, mainly due to a reduction in primary expenditure of EUR 1,829 mln and cash spending on arms programs by EUR 402 million Euro.

Regular expenses were down in the corresponding period of 2014 by EUR 722 mln or 1.7%, although paid been paid an additional EUR 11 mln or EUR call NHS doctors, EUR 45 mln yields in the EU EUR 87 mln euro for emergency financial aid to tackle the humanitarian crisis, EUR 130 million for agriculture subsidies, EUR 26 mln for heating allowance, EUR 20 mln for transport operators grants, EUR 26 mln for electoral expenses and 101 and  euros for families with benefits.

The PIP expenditures amounted to EUR 3.696 mln, down by 734 mln against the target (4.430 mil. Euros) and decreased by EUR 852 mln pared to the same period last year.

Especially for the month November, expenditure of the state budget amounted to EUR 5.633 mln and has increased by EUR 815 mln. Euro against the monthly target, while expenditure of are ordinary budget amounted to EUR 4.758 mln and has increased by EUR 520 mln against the monthly target. The PIP expenditure amounted to EUR 875 mln Euro, increased by EUR 295 million. Euro against the monthly target.