Monday September 1, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Primary surplus reached 2.5 bln euros in Q1

By Sotiris Nikas & Prokopis Hatzinikolaou

The general government primary budget surplus in the first quarter of the year amounted to 2.5 billion euros, according to data released on Wednesday by the Finance Ministry. That is three times the size of the primary surplus a year earlier, which had come to 770 million euros.

The figures compiled by the State General Accounting Office showed that this 1.73-billion-euro improvement is attributed to the social security system, as its organizations received 1.15 billion euros less from the state budget in the January-March period than in the same quarter of 2013. The funds covered a large part of this reduction by slashing the amount spent on pensions by 285 million euros and healthcare expenditure by 233 million euros.

The accounting officeís detailed data point to a central government budget deficit of 1 billion euros, against 2.5 billion in the first quarter of last year. Central government bodies showed a surplus of 496 million euros against a deficit of 108 million last year.

The surplus of local authorities shrank to 298 million euros this year from 417 million a year earlier, while the social security organizationsí surplus dropped to 812 million euros from 1.1 billion last year, owing to the reduction in budget funding and despite the reduction in spending on pensions and healthcare.

The general government budget showed a surplus of 529 million euros, with the primary surplus, which excludes interest payments, coming to 2.5 billion. The state debt amounted to 320.4 billion euros in the first quarter of the year, slightly less than that a year earlier (321.4 billion).

Meanwhile private sector debts to the state and vice versa are continuing to mount, highlighting the economyís persistent cash flow problems.

The data published by the ministry showed that taxpayers and corporations failed to meet obligations amounting to 3.56 billion euros in the first quarter of 2014. At the same time the stateís dues to the private sector grew by 549 million euros, reaching a total of 5.19 billion euros.

ekathimerini.com , Wednesday May 7, 2014 (23:39)  
Europe drafts emergency energy plan with eye on Russia gas shut-down
Greek PM vows to bring down unemployment
Greek economy shrinks at slowest pace since late 2008
Prospect of Greek grand prix back on the agenda; huge investment needed
Hardouvelis optimistic ahead of Paris meeting
The Greek government has stepped up its efforts in advancing the structural measures it has committed to, Finance Minister Gikas Hardouvelis said Monday ahead of a two-day meeting with troik...
Erdogan visits Turkish-occupied Cyprus
Recep Tayyip Erdogan was on Monday expected in Turkish-occupied northern Cyprus in his first official visit as new Turkey President. Erdogan, who was sworn in as his country's first popularl...
Inside News
SOCCER
Fulham striker Mitroglou set to re-join Olympiakos
Greek champions Olympiakos Piraeus are set to re-sign Kostas Mitroglou on loan from English second tier club Fulham after the striker arrived in Athens for talks on Sunday. An Olympiakos spo...
SOCCER
Tough draw for Greek sides in Europa League group stage
Following Thursday nightís high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
Inside Sports
ANALYSIS
EUís three big problems all linked
The outgoing president of the European Council, Herman Van Rompuy, said at the weekend that his successor, Donald Tusk, currently Polandís prime minister, faces three big challenges: the sta...
COMMENTARY
A great president
I fully understand the countryís need for political stability, a necessity which makes the election of a president by the current Parliament absolutely imperative. At the same time, however,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. Europe drafts emergency energy plan with eye on Russia gas shut-down
2. Greek PM vows to bring down unemployment
3. Hardouvelis optimistic ahead of Paris meeting
4. Erdogan visits Turkish-occupied Cyprus
5. Greek economy shrinks at slowest pace since late 2008
6. Laid-off cleaners to protest outside police headquarters
more news
Today
This Week
1. Excavation work at Amphipolis reveals section of marble mosaic floor
2. A great president
3. Donít feed the zombies
4. Greek officials meet to fine tune strategy for Paris talks with troika
5. Deputy Education Minister Koukodimos resigns
6. Greek economy shrinks at slowest pace since late 2008
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. The battle against progress
3. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
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.