Friday August 1, 2014 Search
Weather | Athens
32o C
25o 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 countrys 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 years expenditure. In February alone primary spending was 9 percent below the figure for February 2013.

ekathimerini.com , Tuesday March 11, 2014 (22:43)  
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.