Wednesday March 4, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Budget posts primary surplus of 2.07 bln euros in Jan-Feb 2014

By Prokopis Hatzinikolaou

The first two months of the year posted a 2.072-billion-euro primary surplus despite the shortfall in tax revenues, as budget execution figures are now coming in positive on a regular basis.

The provisional data released on Tuesday by Alternate Finance Minister Christos Staikouras indicated that the difference between revenues and expenditure excluding interest payments bettered the target set for the January-February period by over 1 billion euros and was 1.585 billion euros higher than that recorded a year earlier. The two-month primary surplus amounted to 1.1 percent of the country’s gross domestic product.

Budget revenues came to 7.87 billion euros, missing the target by 575 million. This shortfall is being covered by inflows from the European Union, which have increased by 1 billion euros, as well as the significant containment of public spending.

The state budget surplus amounted to 495 million euros against a deficit of 788 million euros in the same period last year. The target for this year had been for a deficit of 527 million euros.

Faster procedures have led to a major increase in tax rebates for enterprises and taxpayers: These amounted to 497 million euros in the January-February period against just 96 million in the same period last year. The target set had been for 193 million euros. Total rebates, including those for the previous financial years, amounted to 3.7 billion euros – 420 million euros higher than the previous year.

Primary spending amounted to 6.4 billion euros – i.e. 791 million euros less than the target and 1.3 billion euros below last year’s expenditure. In February alone primary spending was 9 percent below the figure for February 2013.

ekathimerini.com , Tuesday March 11, 2014 (22:43)  
Four-star hotels more profitable than five-star units
All personal finance data to be studied
Fitch in new downgrade warning
Flambouraris: Bank boards have been told to quit
Greek-Turkish diplomacy set to resume after Ankara ´mistake´
Talks between Greek and Turkish diplomats are expected to resume soon with a focus on easing tensions in the Aegean after Ankara said it had mistakenly issued a notice to reserve a large chu...
Laws separating drug dealers from users ‘not applied’
Legal provisions distinguishing major drug dealers from users are not being properly applied, according to the Therapy Center for Dependent Individuals (KETHEA), which said recovering addict...
Inside News
SOCCER
Marinakis fines Olympiakos players
Olympiakos president Evangelos Marinakis on Monday fined the team 500,000 euros for disappointing performances and called on them to make a «sacrifice» to win trophies or leave. "Olympiakos ...
SOCCER
Olympiakos´s Karembeu confident UEFA on top of racism
Olympiakos strategic advisor Christian Karembeu expressed his confidence on Tuesday that UEFA are getting to grips with racism in soccer after suffering abuse during the recent Greek derby a...
Inside Sports
COMMENTARY
Greece and the four month window of opportunity
As the dust begins to settle after the Eurogroup agreement extending the loan facility to Greece by four months, it is a good moment to have a look at where we should go from here. Much has ...
COMMENTARY
The Greek tax drama
Numbers alone can never interpret reality, not even a strictly financial one. Besides, the art of creative accounting has a number of fans in this country, many more, for the time being, tha...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Four-star hotels more profitable than five-star units
2. All personal finance data to be studied
3. Fitch in new downgrade warning
4. Flambouraris: Bank boards have been told to quit
5. Talks with Brussels on reforms for cash
6. Greek-Turkish diplomacy set to resume after Ankara ´mistake´
more news
Today
This Week
1. The Greek tax drama
2. Varoufakis to make six reform proposals at Monday's Eurogroup
3. Draghi’s QE moves to starting line as economic outlook brightens
4. Greece approved as recipient of EBRD funding through 2020
5. Convicted Conspiracy of the Cells Fire member to face magistrate
6. Investor survey shows 38 pct chance of eurozone break-up in 12 months
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. A fierce battle looms
3. SYRIZA feeling the pain
4. The Greek tax drama
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
Advertiser Link
“AMF” PROJECT FINAL CONFERENCE-REGIONAL UNIT OF THESPROTIA
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.