Monday April 21, 2014 Search
Weather | Athens
17o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Gov’t sure of primary surplus by year-end

Greece’s state budget registered a primary surplus of 2.7 billion euros in the January-November 2013 period, Alternate Finance Minister Christos Staikouras announced on Thursday.

He added that this means the general government budget’s primary surplus will exceed 800 million euros at the end of the year as calculated by the bailout agreement. Greece’s creditors are now in agreement with that forecast, Staikouras noted.

However, Finance Ministry officials admit that despite the budget’s better-than-expected course, the program applied has failed in three domains: combating unemployment, containing poverty and limiting social inequalities.

On the issue of the value-added tax on food services, which the government is determined to keep at 13 percent, a ministry official stated yesterday that the representatives of the country’s creditors are examining the data the government has submitted. Regarding the Special Consumption Tax on fuel and the possibility of reducing the tax on heating oil, the same official said the measure is “under evaluation.”

The provisional data issued by the State General Accounting Office on the execution of the budget in the first 11 months of the year showed that revenues exceeded expenditure (not including interest payments) by 2.7 billion euros, or 1.2 billion excluding the profits from Greek bonds that eurozone central banks have returned to Greece. This compares with a target for a primary deficit of 1.6 billion euros.

“After several years, the country will this year achieve a primary surplus earlier than expected,” said Staikouras, adding that this is “a surplus which in structural terms is the highest in Europe.”

Senior ministry officials noted yesterday that social security funds’ finances will not derail the budget as they have received some 300 million euros from the reserve fund that still has between 50 and 100 million euros in case of any emergencies this month.

Net budget revenues amounted to 42.7 billion euros, down 0.4 percent from the same period last year. Tax revenues reached 39.5 billion euros, while tax rebates reached 2.47 billion, very close to the target of 2.49 billion.

Primary expenditure amounted to 39.3 billion euros, down 7.3 percent from the same period last year and 1.3 percent below the target. Spending in the Public Investment Program reached 3.95 billion euros, which was 255 million less than the revised target, although Staikouras said this figure will catch up with the target in the last month of the year, as was the case last year too.

ekathimerini.com , Thursday December 12, 2013 (22:24)  
Eurobank share offering on April 25-29
PPC to issue corporate bond of 500 mln
Primary surplus continued by end-March
Eurobank eyes top Core Tier 1 level in Greece
Greek Christians mark rare Good Friday in north Cyprus
Hundreds of Greek Orthodox pilgrims, some coming home after 40 years of forced exile, commemorated the crucifixion of Jesus in a rare Good Friday service in northern Cyprus. Held in this med...
Greece offers to help find Turkish F-16 lost in 1996
Greece officially offered on Thursday to assist Turkey in its efforts to locate and salvage a Turkish Air Force fighter jet which crashed in the Aegean almost 20 years ago. Greek Defense Min...
Inside News
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
BASKETBALL
Former Red Bourousis wrecks Olympiakos´s hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
Inside Sports
COMMENTARY
The placebo effect and the economy
Among the greatest mistakes made in the years of Greece’s hard landing is that citizens did not get the chance to sense that aside from austerity and pain the economic adjustment program als...
COMMENTARY
Ukraine is a crisis—but not a Cold War
Given Russia’s annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek Christians mark rare Good Friday in north Cyprus
2. Eurobank share offering on April 25-29
3. Greens lose badly as CSKA Moscow
4. Former Red Bourousis wrecks Olympiakos´s hopes for a break
5. PPC to issue corporate bond of 500 mln
6. Greece offers to help find Turkish F-16 lost in 1996
more news
Today
This Week
Today
This Week
1. Greece's market return mirrors return of tourists
2. Parties start announcing candidates for European Parliament elections
3. Greece startup leaders say they can’t break jobless cycle alone
4. Ground-breaking Good Friday mass signals thaw in Cyprus
5. IMF's Thomsen says Greece not fully financed to 2016
6. Mayoral candidates clash over Athens mosque plans
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.