Sunday November 23, 2014 Search
Weather | Athens
18o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Primary surplus, revenues beat targets

 January-May budget figures show tax collections fetched 140 million euros more than expected

By Sotiris Nikas

The budgets primary balance and its revenues have beaten their targets according to the deficit figures for the years first five months released on Tuesday by the Finance Ministry.

The primary budget surplus amounted to 707 million euros in the year to end-May, compared with a target for just 208 million euros. The total balance of the budget, including interest payments, showed a deficit of 1.99 billion euros against a target for 2.55 billion.

Tax revenues beat their target by 140 million euros, reaching 16.06 billion. This was thanks to the better-than-expected performance of the collections of corporate income tax by 274 million euros or 57.8 percent, of the property tax by 23 million euros or 2 percent, other direct taxes by 7 million euros, value-added tax by 22 million euros, and other indirect taxes by 22 million euros.

The revenue categories that missed their targets in the January-May period were income tax from households, by 95 million euros or 4 percent, the special categories income tax by 36 million euros, the special consumption tax on energy commodities by 14 million euros, the other special consumption taxes by 36 million euros, other consumption tax by 22 million euros, and revenues of the program to enhance cash flow due to the credit crisis by 29 million euros, or 33.4 percent.

Tax rebates in the year to end-May amounted to 1.26 billion euros, exceeding their target by 85 million euros, while Public Investments Program revenues amounted to 2.3 billion euros, against a target for 2.31 billion.

On the expenditure side, spending was contained by 641 million euros more than the budget target. Even the financing of social security funds, which usually causes the biggest headache, was within the framework set by the budget.

The only form of public spending that missed its target was that for the Public Investment Program, by 113 million euros, but given the declared intention to support investments in the country this can only be a welcome development. Furthermore, by the end of May, the Finance Ministry had only distributed 169 million out of the 525 million euros set aside for the so-called social dividend (the handout to vulnerable social groups from last years primary surplus).

ekathimerini.com , Tuesday June 24, 2014 (22:54)  
Fitch keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. PASOK nixes Papandreou leadership challenge
2. Piraeus nightclub shooting leaves 3 seriously injured
3. Climate change to hit farming, Greek coastline
4. Fitch keeps Greek rating at B, outlook stable
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govt nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.