Sunday November 23, 2014 Search
Weather | Athens
18o C
10o 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 keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
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...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. PASOK nixes Papandreou leadership challenge
2. Piraeus nightclub shooting leaves 3 seriously injured
3. Climate change to hit farming, Greek coastline
4. Fitch keeps Greek rating at B, outlook stable
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govt nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.