Thursday October 23, 2014 Search
Weather | Athens
22o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Primary surplus and revenues exceed target

By Prokopis Hatzinikolaou

Budget revenues in the first five months of the year are showing a rebound according to data released on Thursday by Alternate Finance Minister Christos Staikouras. Notably in May, an election month, revenues posted a significant recovery, exceeding the original targets.

Ministry figures showed that tax revenues in the year to end-May were 146 million euros above target, resulting in a primary budget surplus of 711 million euros for the first five months of 2014.

Staikouras said that the public finances are strengthening, paving the way for a gradual decline in tax rates. The necessary foundations are being created for the recovery of the real economy and the promotion of employment, the distribution of a social dividend, a reduction in social security contributions and the gradual easing of the tax burdens on corporations and households, he stated.

According to official data, tax rebates in the first five months amounted to 1.27 billion euros, compared with just 483 million in the same period last year. In May tax rebates were more than double those given out in the same month of 2013 as well as the target for last month. Tax rebates were particularly high, much higher than in the same period last year, the alternate minister stated.

Staikouras added that revenues before tax rebates were 250 million euros higher than those of May 2013, while tax revenues were 300 million higher on an annual basis and 285 million above target.

The figures presented are the revised ones, as the budget targets have been updated based on the targets of the midterm fiscal plan agreed with the countrys creditors. Originally the budget had provided for a primary surplus of 1.5 percent of gross domestic product, while the midterm plans revised target provided for a 2 percent primary surplus. The target for the first five months was for revenues to exceed expenditure by 208 million euros, but the actual figure came in at 711 million.

Net budget revenues amounted to 17.3 billion euros in the January-May period, beating the revised target by 62 million euros, or 0.4 percent. Total tax revenues came to 16.17 billion euros 254 million euros or 1.6 percent above the revised target. Tax rebates reached 1.27 billion, some 85 million euros above target, and revenues from the Public Investments Program amounted to 2.3 billion euros, missing the revised target by just 16 million euros. Budget expenditure amounted to 21.59 billion euros, beating its target by 529 million euros.

ekathimerini.com , Thursday June 12, 2014 (23:02)  
Nissan recalling 260,000 vehicles globally with Takata air bags
Arrivals show increase in January-June 2014 period
TBEX brings together 800 travel bloggers in Athens
Athens weighs its LNG and CNG options
Samaras to represent Anastasiades at European Council meeting
Greek Prime Minister Antonis Samaras is to represent Cypriot President Nicos Anastasiades at the European Council and a European conservative leaders' meeting on Thursday after the latter wa...
Cyprus president to sit out EU summit due to high blood pressure
Cyprus President Nicos Anastasiades was admitted to a hospital in Brussels on Thursday morning following repeated nosebleeds caused by high blood pressure. He was discharged a few hours late...
Inside News
SOCCER
Robertos heroics make Kasamis goal count
Pajtim Kasamis goal and Robertos heroics in goal saw Olympiakos claim one of the biggest wins in its history on Wednesday downing Italian champion Juventus 1-0 to boost its chances of reac...
SOCCER
Third-division Iroditos punished heavily after fan death
Greek third division team Irodotos has been docked 15 points and ordered to play 10 matches behind closed doors following the death of an Ethnikos Piraeus supporter, the Hellenic Football Fe...
Inside Sports
COMMENTARY
Defusing a crisis
The crisis in Cyprus is escalating rapidly and defusing it is an extremely delicate and complicated procedure that will inevitably lead to losses for the weakest of the two sides. The course...
EDITORIAL
PM needs to step up
The public perception of the government is anything but good right now. The coalition is projecting an image of discord and constant disputes show that key ministers are unable to stay on th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Nissan recalling 260,000 vehicles globally with Takata air bags
2. Samaras to represent Anastasiades at European Council meeting
3. Arrivals show increase in January-June 2014 period
4. Cyprus president to sit out EU summit due to high blood pressure
5. Strong winds hamper sea travel
6. TBEX brings together 800 travel bloggers in Athens
more news
Today
This Week
1. Strong winds hamper sea travel
2. TBEX brings together 800 travel bloggers in Athens
3. Cyprus president to sit out EU summit due to high blood pressure
4. Arrivals show increase in January-June 2014 period
5. Samaras to represent Anastasiades at European Council meeting
6. Nissan recalling 260,000 vehicles globally with Takata air bags
Today
This Week
1. Coalition shooting itself in the foot
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. Greeces closed society is central to its current malaise
4. The past, present and future of the Greek debt crisis
5. Greece must stick to reforms, says Schaeuble
6. At least 11 banks to fail European stress tests, three in Greece, report says
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.