Saturday August 23, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Gov’t says it met fiscal targets

 Budget of 2012 shows primary surplus of 435 mln euros according to preliminary data, but revenues lag

By Prokopis Hatzinikolaou

Greece has achieved a primary surplus of 435 million euros, according to preliminary figures published on Monday by the Finance Ministry for the execution of the general government budget of 2012, although the state’s expired debts were 1.7 billion euros more than in 2011.

“General government figures confirm that the government has achieved its fiscal targets for 2012,” Alternate Finance Minister Christos Staikouras said.

Ministry officials say that the state deficit data for 2012 are going to be adjusted soon, but are certain to beat the target of 1.5 percent of gross domestic product, ending at between 1.2 and 1.3 percent.

In regards to the state’s expired debts, these ended at 8.7 billion euros last year, up from 7 billion in 2011, according to the figures published by the General State Accounting Office.

The general government deficit dropped to 12.5 billion euros or 6.6 percent of GDP from 19.68 billion or 9.4 percent of GDP at end-2011. The target for 2012 had been set at 12.88 billion euros. Primary balance data show a surplus of 435 million euros, against a primary deficit of 3.5 billion euros in 2011. However, the adjustment to come by end-February will produce a primary deficit of 1.2-1.3 percent of GDP.

State budget expenditure (not including interest payments) came to 55.39 billion euros last year, from 60.35 billion in 2011, recording an 8.2 percent decline. Spending for interest payments amounted to 12.2 billion euros, against a target for 11.7 billion euros, though compared with 2011 there was a 25.23 percent drop.

Revenues lagged the target, however: They came to 51.77 billion euros, against a target of 52.99 billion, posting a 1.22 billion shortfall. They also dropped by 4 percent from the year before.

Expired debts were reduced by 700 million euros in end-December compared with November. The total amount of 8.77 billion euros includes pending tax returns, while the government plans to settle debts of up to 8 billion euros by the end of 2013.

ekathimerini.com , Monday February 4, 2013 (22:40)  
Perceptions and praying for our peers
New banking measures aimed at tackling nonperforming loans
Smaller firms wiped out by the crisis
Bank shares on wild ride amid test fears
Baltakos rejects reports of plans to form own party
Ex-cabinet secretary and prime-ministerial adviser Panayiotis Baltakos says he is not poised to form his own party but believes New Democracy should be doing more to attract right-wing voter...
Athens finalizes Paris talks goals
The Greek government has begun finalizing its negotiating strategy for the imminent talks with troika officials in Paris, setting four clear priorities for the September meeting. Kathimerini...
Inside News
Soccer refereeing investigation goes into final stage
A judicial probe into alleged corruption in Greek soccer is entering its final phase, with 11 top officials due to give depositions to Court of First Instance deputy prosecutor Aristidis Kor...
West Brom sign Greek international striker Samaras
West Bromwich Albion have signed Greece striker Georgios Samaras on a two-year contract following his release from Scottish champions Celtic, the English Premier League club said on Friday. ...
Inside Sports
COMMENTARY
Purification rituals
The collection of higher-than-expected state revenues (which exceeded the target set for the seven-month period by 555 million euros) from income taxes and the terrible introduction of the n...
EDITORIAL
Building a solid state apparatus
The conservative-led government is making a valiant effort to modernize the country’s public administration. Bringing the system up to a decent standard is of course a painstaking process th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Perceptions and praying for our peers
2. New banking measures aimed at tackling nonperforming loans
3. Smaller firms wiped out by the crisis
4. Bank shares on wild ride amid test fears
5. Baltakos rejects reports of plans to form own party
6. Soccer refereeing investigation goes into final stage
more news
Today
This Week
1. Purification rituals
2. Greek police in easiest drug arrest ever
3. Kavala man left 6 dogs at home without food or water for 2 weeks
4. Athens police seek hit-and-run driver after pedestrian dies
5. Athens finalizes Paris talks goals
6. Public officials expect Thessaloniki metro project to finish in 2018
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. The magical mountain
3. Merkel cites euro’s ‘construction flaws’ as economy sputters
4. Brussels warns Greece over plans to allow construction near Korinos beach
5. Greek stock recovery fading away as ASE falls 21 pct on valuations
6. Second man held over double murder in Mani
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.