Tuesday September 2, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece posts primary budget surplus in first 11 months of 2012

Greece posted a primary budget surplus of 2.3 billion euros in the January-to-November period of 2012 against a deficit of 3.6 billion in the same period of 2011, the Finance Ministry said in a statement on Wednesday.

The general government primary balance did not include interest payments.

Deputy Finance Minister Christos Staikouras said that the data was an indication that measures to curb spending are beginning to pay off.

"This development in the implementation of the budget indicates that the dedicated fiscal, adaptation and discipline efforts are paying off, setting the conditions for the gradual restart of the economy, with the aim being to jump from a cycle of deficit into the cycle of sustainable growth on a solid basis," Staikouras said.

Eurozone finance ministers in November agreed to give Greece a two-year extension to 2016 to meet a primary-surplus target of 4.5 percent of economic output.

Meanwhile, data from the Finance Ministry also showed that government arrears fell slightly for the first time to 8.56 billion in the January-November 2012 period after reaching a peak of 8.7 billion euros in the January-October period from 7.1 billion euros at the start of the year.

More than half of the arrears are to social security funds, which are owed 4.4 billion euros, the data show.

ekathimerini.com , Wednesday Jan 2, 2013 (13:45)  
Greece needs private debt overhaul, Piraeus Bank CEO says
Cheap energy pulls down eurozone producer prices in July
Greece sells 1.14 bln euros of 6-month T-bills, yield eases
New committee formed to assess progress of deregulation in closed-shop professions
Armed robbers hold up post office in Thessaloniki
A manhunt was under way on Tuesday for three men who held up a post office in Diavata, a suburb northwest of Thessaloniki center, making off with some 2,000 euros in cash. According to the s...
Reforms to dominate Greek talks in Paris, debt relief talks later, says source
Greece hopes to assuage concerns it is slipping up on reforms during talks with European and IMF inspectors in Paris this week, with debt relief talks unlikely to start until October, a seni...
Inside News
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
SOCCER
Unlikely pair on the Super League summit
Veria and Atromitos are sitting pretty at the top of the Super League after the second round of games thanks to their away wins that made them the only clubs to have six points, as champion ...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the peoples favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Armed robbers hold up post office in Thessaloniki
2. Greece needs private debt overhaul, Piraeus Bank CEO says
3. Cheap energy pulls down eurozone producer prices in July
4. Greece sells 1.14 bln euros of 6-month T-bills, yield eases
5. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
6. Greece defender Papadopoulos fires parting shot at Michel
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. Moderating expectations
4. New committee formed to assess progress of deregulation in closed-shop professions
5. Trial over 2013 murder of pawn merchant starts in Athens
6. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Attack on gay couple in Athens leaves one man needing surgery
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.