Friday August 1, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Solid primary surplus by Feb 28

 Budget performs well thanks to reduction in spending while industrial output grew for third straight month
Alternate Finance Minister Christos Staikouras said the solid budget figures allow the markets to place their confidence in Greece.

The Greek economy posted a primary budget surplus of 3.5 billion euros for the first couple of months of 2014 and a solid increase in industrial output in February, although debts between the state and taxpayers are on the rise. These will be among the issues Finance Minister Yannis Stournaras will discuss with European Commission Vice President Joaquin Almunia, who arrives in Athens on Thursday.

Finance Ministry figures pointed on Wednesday to a major general government primary surplus that according to Alternate Finance Minister Christos Staikouras will boost market confidence in the Greek economy. The surplus is mostly down to the good performance of state corporations and certain state entities, as their January-February balance shows a surplus of 540 million euros against a deficit of 158 million in the same period last year.

On the central government level, the increase in the primary surplus was thanks to the 3.4 percent reduction in expenditure, while there was a 2.3 percent shortfall in tax revenues.

However state debts to the private sector have grown to 4.59 billion euros, from 4.41 at the end of January, while new debts to the state created by taxpayers in the years first couple of months amount to 2.35 billion euros, with 1.39 billion of that having arisen in February, the ministry figures revealed. Total expired debts to the state totaled 64.45 billion euros at end-February.

Data from the Hellenic Statistical Authority showed on Wednesday that industrial output rose by 1.7 percent on an annual basis in February, which was the third consecutive month of growth for the index. February 2013 had witnessed a 4.6 percent decline.

Besides these figures, Stournaras and Almunia are set to discuss the coverage of local banks capital requirements, with interest focusing on Eurobank and National. Almunias recent intervention against the participation of the bank bailout fund (HFSF) in the Eurobank increase unless private investors fail to cover all of it has created concerns in the fund about the future of its holding in its 95 percent-owned lender.

ekathimerini.com , Wednesday April 9, 2014 (22:15)  
Traders unhappy with turnover
No rivals for Intralot as it bags racing bet permit
Energy cost cuts even without EU approval
KEPE: Greek economy returned to growth in Q2
Greece to help hundreds of Chinese leave Libya
With the violence in Libya escalating to its worst level since the 2011 ouster of dictator Moammar Gadhafi, governments from around the world are scrambling to evacuate their citizens from t...
Plan to restore Asopos River enters final stage
Plans are in the final stage for the ecological restoration of Asopos River in Central Greece following a deal to install an integrated water resources management system. The 37.6-million-eu...
Inside News
SOCCER
One win and one loss in Europa League
Greece had a hit and a miss in the first-leg games for the third qualifying round of the Europa League on Thursday, as Atromitos scored a 2-1 win at Sarajevo while Asteras Tripolis lost 1-0 ...
SOCCER
Goalless draw at Liege puts Greens in driving seat
Panathinaikos got the upper hand in the battle for entry to the Champions League playoffs after snatching a goalless draw at Standard Liege on Wednesday. If anything, the Greek cup holders m...
Inside Sports
COMMENTARY
In trying to conquer, Putin unites Europe
President Vladimir Putin is obliged to feign indifference to the sanctions that the European Union and the United States imposed on Russia this week. But, being the player that he is, he mus...
COMMENTARY
Summer turbulence
High summer temperatures appear to have messed with the reflexes of officials at the top echelons of Greeces power-sharing administration. A sense of anxiety has gripped the political syste...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. One win and one loss in Europa League
2. Greece to help hundreds of Chinese leave Libya
3. Traders unhappy with turnover
4. No rivals for Intralot as it bags racing bet permit
5. Energy cost cuts even without EU approval
6. KEPE: Greek economy returned to growth in Q2
more news
Today
This Week
1. Motorists refusing to pay tolls on Corinth-Kalamata highway to be monitored
2. Euro flows reveal shift in sentiment as losses mount
3. Greece may ignore EU and lower energy costs for business, says minister
4. EU puzzles over emergency funds for euro area bank crisis agency
5. Only 5 percent of stores see brisker business during this year's summer sales
6. Fake psychic caught in Thessaloniki after gaining 35,000 from victim
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Wine cup used by Pericles found in grave north of Athens
3. Defense Minister Avramopoulos to represent Greece at European Commission
4. Worlds largest solar boat on Greek mission
5. Greece names fifth privatization agency chief in four years
6. Greek coast guard picks up 77 migrants off Myconos
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.