BUSINESS

BoG confirms primary surplus at 812 mln euros

Bank of Greece data confirmed on Monday that the primary surplus for the 2013 budget amounted to 812 million euros on a cash basis at the end of January 2014.

Last month’s budget revenues came to 4.46 billion euros, compared with 4.29 billion a year earlier, while expenditure reached 3.6 billion euros against 3.8 billion in the first month of 2013. The amount for January includes some 5 million euros spent on the repayment of expired debts.

The net result of the Public Investment Program produced a deficit of 276 million euros, against just 10 million euros in January 2013. This means that spending on public investments last month exceeded the program’s revenues by 276 million euros.

Interest payments in January amounted to 216 million euros, some 15 percent less than the 248 million paid for interest in the same month last year.

A few days ago the State General Accounting Office issued the latest data on the execution of the 2013 state budget after the end of January 2014, which showed a primary surplus of 811 million euros.

Certain January and February figures are regularly included in the previous year’s budget results.

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