Friday Jan 30, 2015 Search
Weather | Athens
16o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Series of surpluses just started

 After recording a positive result in the 2013 budget by 3.38 bln euros, Athens expects lightening of debt

By Sotiris Nikas

Greece’s primary budget surplus last year came to 3.38 billion euros, according to figures that the Hellenic Statistical Authority (ELSTAT) forwarded on Monday to Eurostat, which is set to confirm the data on April 23, paving the way for the adoption of extra measures to lighten Greece’s debt load.

Technically, ELSTAT’s calculation points to a primary surplus of 1.4 billion euros, as the country’s statistics agency has used the troika inspectors’ method of determining revenues, but this changes nothing about the so-called social dividend that the government has said it will distribute to taxpayers.

The primary balance of the general government’s budget for 2013 had a deficit of 15.89 billion euros, but that also included the one-off support given to banks amounting to 19.27 billion euros. This means that when the banks’ effect is taken out the primary surplus amounts to 3.38 billion and Eurostat is expected to confirm that unreservedly.

Alternate Finance Minister Christos Staikouras stated on Monday that the figures formally confirmed “the estimates and the forecasts of the government for a primary surplus in 2013.” A senior ministry official said that what really matters is that Greece has entered an extended period of primary surpluses, while Staikouras added that what the country needs now is “the further enriching of the economic policy with actions and initiatives toward growth.”

Indeed primary surpluses appear to be persisting, with the first quarter of this year also showing that budget revenues have exceeded expenditure by 1.56 billion euros, against a target for 878 million euros, Finance Ministry data showed yesterday.

This was despite a revenue shortfall amounting to 720 million euros, which is mostly attributed to a 364-million increased in tax rebates, and the extension granted to the payment of corporate taxes adding up to 250 million. The latter will not be paid before May. Budget net revenues added up to 10.6 billion euros in the year to end-March, missing their target by about 6.3 percent, the data revealed.

ekathimerini.com , Monday April 14, 2014 (22:19)  
Greece to cancel gas utility sale, opposes Canadian gold mine
Berlin: Greek aid extension only makes sense if Athens upholds reforms
Pimco says Greek bonds illiquid, volatile until accord reached
Draghi deflation challenge underlined as prices plunge by record
Eurogroup chief warns Greece against ´ignoring´ deals done under bailout
Eurogroup chief Jeroen Dijsselbloem on Friday warned Athens against "ignoring" its international bailout deals following talks with the new anti-austerity government. "Ignoring the compromis...
New Greek PM to visit Cyprus on first foreign trip
Greece's new Prime Minister Alexis Tsipras is to travel to close ally Cyprus on Monday for his first visit abroad since his election victory, Cypriot officials said. On a brief visit to Gree...
Inside News
SOCCER
Olympiakos draws AEK in Cup quarterfinals
The dream draw of Olympiakos vs AEK in the quarterfinal materialized on Friday, as two of the capital's three giants will face off in a two-leg tie for a place in the semifinals of the Greek...
BASKETBALL
Below-par Olympiakos succumbs to Efes
The winning streak of Olympiakos in the second group stage of the Euroleague ended on Thursday in Turkey, as Anadolu Efes outclassed the Reds in the second half to win 84-70. Olympiakos had ...
Inside Sports
INTERVIEW
SYRIZA must come up with ‘pragmatic solutions,’ Schulz tells Kathimerini
“SYRIZA must realize that it is now the Greek government, not a party running an election campaign,” European Parliament President Martin Schulz, the first European official to visit Greece ...
COMMENTARY
Strange haste
The members of the new government must have a lot of confidence in themselves. Several days before announcing his program, Prime Minister Alexis Tsipras and his cabinet have opened up a mult...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Eurogroup chief warns Greece against ´ignoring´ deals done under bailout
2. New Greek PM to visit Cyprus on first foreign trip
3. No plan for when Greece´s bailout ends, Dijsselbloem says
4. Greece rejects return of EU-IMF inspectors to Athens, source tells Reuters
5. Greece to cancel gas utility sale, opposes Canadian gold mine
6. Ex premier Karamanlis said to reject SYRIZA offer for presidential candidacy
more news
Today
This Week
1. SYRIZA must come up with ‘pragmatic solutions,’ Schulz tells Kathimerini
2. Why Greece went left while Europe turns to right
3. Capital flees Greece at fastest pace since 2011
4. Greek government's signals very mixed, ECB's Jazbec says
5. Monastiraki restaurant fire prompts panic, restricted before spread
6. EU's Schulz: Greece should follow EU line on Russia
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greek Elections 2015: The day after | LIVE
5. SYRIZA's win will test institutions
6. Poll shows SYRIZA leading ND by 4 pct
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.