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November 17, 2019

Greek budget recorded primary surplus of 4.479 billion euros in Jan-Sept

Greek state budget recorded a primary surplus of 4.479 billion euros in the January-September period from a budget target for a surplus of 1.467 billion and a primary surplus of 2.523 billion euros in the same period last year, the finance ministry said on Tuesday.

In a report on provisional budget execution, on an amended cash basis, the ministry said that net revenue amounted to 38.531 billion euros in the nine-month period, up 4.3 pct from budget targets, reflecting proceeds of 1.119 billion euros from the signing of a contract extending a concession contract for the Athens International Airport (originally planned to be collected in 2018) and proceeds of 644 million euros from ANFAs in May. Regular budget revenue was 42.047 billion euros, up 4.8 pct from targets. Tax returns totaled 3.517 billion euros, up 344 million from targets, while Public Investment Programme revenue was 1.571 billion euros, down 796 million from targets.

Budget spending amounted to 38.644 billion euros in the January-September period, down 1.723 billion from targets. Budget spending was up by 965 million euros compared with the same period last year.

In September, net state budget revenue was 5.401 billion euros, down 823 million from monthly targets, despite an increase of 193 million euros in tax revenue. Regular budget revenue was 5.937 billion euros, down 798 million from targets. Public Investment Programme revenue was 44 million euros, down 840 million from targets, while tax returns were 537 million, up 25 million from monthly targets.

Budget spending was 3.926 billion euros in September, down 758 million from monthly targets.

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