Wednesday April 1, 2015 Search
Weather | Athens
14o C
09o 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)  
Fitch downgrades ratings of four Greek banks
Paris, Berlin see Greek-Russian courtship as sideshow
JPMorgan says Greek bond pessimism is overdone
Sarantis SA to buy Avas rights in Greece from Procter & Gamble
Greek anti-establishment protesters occupy buildings, enter Parlt grounds
Anti-establishment protesters occupied several public buildings in Greece and briefly entered the grounds of parliament in Athens on Wednesday, calling for the release of jailed members of a...
Greek panel begins campaign for WWII reparations from Germany
A Greek parliamentary committee set up by Prime Minister Alexis Tsipras's government to demand reparations for the Nazi occupation of Greece began work on Wednesday, in a move likely to heig...
Inside News
BASKETBALL
AEK could get a wild card to the Euroleague
AEK shows capable of climbing as high as third in the Basket League, as its 16-point home win over third-placed Aris on Sunday confirmed it can challenge both Aris and PAOK to the first spot...
SOCCER
Cyprus soccer eyes reunion after 60-year divorce
Turkish Cypriot soccer officials on Monday vowed to press ahead with attempts to reunite with the Cyprus Football Association, (CFA), triggering a political storm on the ethnically-split isl...
Inside Sports
COMMENTARY
Going his own way
While up until the last election we had become accustomed to referring to the coalition government led by Antonis Samaras as one featuring a split personality, no political psychoanalyst cou...
EDITORIAL
Righting the wrongs
A country that wants to move forward should study and deal with its past mistakes in a mature and responsible manner. Greece was hit by an unprecedented debt crisis and it came to the brink ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Fitch downgrades ratings of four Greek banks
2. Paris, Berlin see Greek-Russian courtship as sideshow
3. JPMorgan says Greek bond pessimism is overdone
4. Sarantis SA to buy Avas rights in Greece from Procter & Gamble
5. Greek anti-establishment protesters occupy buildings, enter Parlt grounds
6. Greek panel begins campaign for WWII reparations from Germany
more news
Today
This Week
1. Going his own way
2. Finance Ministry officials to discuss talks progress as EU pushes for action [Update]
3. Athens aims to tighten ties with Russia
4. Spike in migrants reaching Lesvos
5. Greek economy minister sees deal with EU/IMF on reforms next week
6. Buffett says Greek exit from euro may not be a bad thing
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. Moscow expects progress from Tsipras visit
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Greece optimistic on deal with euro area next week
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.