Friday May 22, 2015 Search
Weather | Athens
14o C
09o 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)  
Lagarde says much work left to be done on Greece deal
Greece to cut bank rescue fund managers´ pay by 40 percent
Schaeuble said to raise possibility of Greek parallel currency
IMF participation in Greek debt talks ´essential,´ German ministry says
Juncker, Tsipras eye Greece deal in early June
Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker held talks in a very friendly and constructive climate on the sidelines of an EU leaders' meeting in Riga ...
EU to propose relocating 40,000 refugees from Italy, Greece
The European Commission is set to propose next week that 40,000 asylum seekers who have arrived by boat in Italy and Greece should be relocated across the continent in response to what it co...
Inside News
Greece escapes soccer suspension, FIFA happy with changes
FIFA says it is satisfied with changes made to sporting law in Greece, and has dropped a threat to suspend the country from international competition. In a letter to the government dated May...
SOCCER
Four-goal Panathinaikos thrashes Asteras away
Panathinaikos thrashed Asteras at Tripoli to gain an early advantage in the race for a spot in next season’s Champions League qualifiers, as the Super League play-offs got under way on Wedne...
Inside Sports
EDUCATION
Consensus is key
The education bill that has been put forward by Greece’s leftist-led government has to be the subject of extensive public consultation. Even more importantly, it needs to be approved in Parl...
COMMENTARY
The other inequality: how the state spends our money
Growing inequality between rich and poor across the world has rightly become the focus of much investigation and analysis. The Organization for Economic Cooperation and Development underline...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Juncker, Tsipras eye Greece deal in early June
2. Greece escapes soccer suspension, FIFA happy with changes
3. Lagarde says much work left to be done on Greece deal
4. EU to propose relocating 40,000 refugees from Italy, Greece
5. Greece to cut bank rescue fund managers´ pay by 40 percent
6. Schaeuble said to raise possibility of Greek parallel currency
more news
Today
This Week
1. Merkel stamps out brief optimism on Greece after Tsipras talks
2. Tsipras to meet Juncker on second day of Riga summit
3. Lessons from Israel’s tech miracle
4. Banks will be asked to revise their restructuring plans
5. EOPYY struggles for funding, sees overdue debt rise
6. Greece sees reforms deal with lenders in next 10 days, spokesman says
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Phony dilemma
3. Greece came close to not paying IMF
4. Conspiracy madness
5. National self-awareness put to the test
6. Albanian demarche raises concerns about possible territorial claims over Greece
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.