Monday November 24, 2014 Search
Weather | Athens
14o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Primary surplus rises to 3.2 billion euros

By Sotiris Nikas

The general government budget produced a considerably higher primary surplus in the first seven months of the year compared with the same period in 2013, allowing the coalition to raise the subject of lightening the tax load on citizens. However, there are concerns about the significant decline in revenues and the sliding surpluses of social security funds, local authorities and others.

Finance Ministry data showed on Wednesday that the primary surplus in the year to end-July amounted to 3.2 billion euros, against 1.8 billion a year earlier.

This development constitutes a clear indication that the countrys public finances are stablizing with the securing of primary surpluses. This is creating the necessary base for the growth of the economy with social justice and cohesion, Alternate Finance Minister Christos Staikouras stated.

That said, the ministry is worried about the course of revenues at social security funds, municipalities and state companies. In the first seven months of 2014 the funds revenues dropped to 20 billion euros from 23.2 billion a year earlier, those at local authorities fell to 3.5 billion from 3.8 billion in 2013, while state companies saw their revenues decline to 2.7 billion euros from 3.5 billion.

This led to contractions in the surpluses of all those bodies, but the situation on the surface was saved as the primary surplus of the state budget soared from 1.2 billion euros last year to 2 billion.

Expired debts owed by the state also decreased at the end of July, thanks to the payment of a significant part of the debts of the former primary health provision organization (EOPYY) to its suppliers. Expired debts amounted to 4.6 billion euros in July, compared to 5.2 billion in June.

Data also showed that the national debt rose at end-July to 323.9 billion euros, from 321.4 billion at the start of the year.

ekathimerini.com , Wednesday September 3, 2014 (22:57)  
Traders eye developments with creditors
ILO calls for urgent action in Greece to create jobs, tackle social problems
Draghi urgency for ECB action gets final reality check
Greece to scrap need for permits in some 900 professions
Biden briefs Anastasiades about talks in Istanbul
US Vice President Joe Biden has affirmed Washingtons commitment to the reunification of Cyprus as a bizonal, bicommunal federation, urging both sides on the divided island to resume UN-brok...
Prosecutor seeks trial for 64 in Siemens bribery scandal
A prosecutor recommended Monday that 64 people face bribery and money laundering charges in connection with the Siemens cash-for-contracts scandal following an eight-year probe that did not,...
Inside News
BASKETBALL
Olympiakos ends PAOKs unbeaten run in Basket League
Olympiakos put an end to PAOKs unbeaten run in the Basket League with an emphatic win at the Peace and Friendship Stadium, leaving Panathinaikos as the only team with a perfect record so fa...
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
Inside Sports
COMMENTARY
Extremism from a bygone era
There are times when we seem to be overcome by self-destructive madness. I hear various commentators and politicians speaking in extreme terms of a junta, of defections, gallows, collaborato...
EDITORIAL
No call for more games
Psychological warfare has been a part of the negotiations between the troika and Athens from the very start of the crisis. But the situation is much different now and troika decision-makers ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Biden briefs Anastasiades about talks in Istanbul
2. Prosecutor seeks trial for 64 in Siemens bribery scandal
3. Thessaloniki man sentenced to 20 years for German school hostage crisis
4. Rifle used in Piraeus shooting not connected to previous attacks
5. Professor convicted over accepting bribes to pass students
6. SYRIZA denies reports of Tsipras dining with Angelopoulos-Daskalaki, Latsis
more news
Today
This Week
1. Scientists expand excavation of ancient Amphipolis
2. Greek officials to meek troika chiefs in Paris to break review stalemate
3. EU said to plan 21 billion-euro risk-sharing fund for investment
4. Police seek to name man who opened fire with AK47 at Piraeus bar
5. Biden informs Anastasiades about content of talks with Erdogan
6. Countdown to missed opportunity for EU economy
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Biden heads to Istanbul amid tension over Cyprus EEZ violation
3. Anti-junta uprising anniversary to be marked amid tight security
4. Every age has its collaborators
5. Give Greece a chance
6. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.