Monday Jan 26, 2015 Search
Weather | Athens
15o C
9o 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 budgetís primary balance and its revenues have beaten their targets according to the deficit figures for the yearís 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 yearís primary surplus).

ekathimerini.com , Tuesday June 24, 2014 (22:54)  
Talks with troika the main test
Fiscal gap from revenues at 2.3 bln euros
Liquidity noose tightening around local lendersí necks
Banks make plans for tackling impact of Swiss francís growth on borrowers
SYRIZA heads for historic victory but without majority
SYRIZA was on the verge of a historic election victory on Sunday night but one that might not hand the leftist party an outright parliamentary majority, raising doubts about whether a govern...
Prison probes violent attack against N17 convict Xeros
Authorities at Domokos Prison in central Greece were investigating over the weekend an attack by an inmate on November 17 terrorist Christodoulos Xeros. According to Xerosís lawyer, Fragisko...
Inside News
SOCCER
Olympiakos overcomes depleted OFI at Iraklio
Easy though it may seem, Olympiakosís 3-0 win at depleted OFI Crete was rather difficult on Saturday, but was enough to keep the Reds on top on Saturday, as they have maintained their two-po...
BASKETBALL
Tremendous Spanoulis sweeps Laboral Kutxa
A hot second half was enough for Olympiakos to undo visiting Laboral Kutxa and score its fourth win in as many games at the second round of the Euroleague on Friday. The 76-64 final score wa...
Inside Sports
FOCUS
A SYRIZA government in Greece: what it wants and what might be possible
The left-wing SYRIZA party led by Alexis Tsipras looks likely to win the Greek general election on Sunday after campaigning on a pledge to renegotiate the countryís international bailout and...
COMMENTARY
The train
If we go by the polls, SYRIZA is set to win Sundayís election and form a government. New Democracy did not really campaign, or perhaps it did so in a way that can only be explained if the pa...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. SYRIZA heads for historic victory but without majority
2. Prison probes violent attack against N17 convict Xeros
3. Talks with troika the main test
4. Fiscal gap from revenues at 2.3 bln euros
5. Liquidity noose tightening around local lendersí necks
6. Banks make plans for tackling impact of Swiss francís growth on borrowers
more news
Today
This Week
1. SYRIZA heads for historic victory but without majority
2. Greek Elections 2015 | LIVE
3. Greek Elections 2015 Results | LIVE
4. Greeks vote for reform path or defiance
5. A SYRIZA government in Greece: what it wants and what might be possible
6. Exit polls suggest big margin of victory for SYRIZA
Today
This Week
1. Greek Elections 2015 | LIVE
2. Grexit the only way out of Ďvalley of tears,í says Hans-Werner Sinn
3. Greek Elections 2015 | LIVE
4. No debt writedown or rolling back of reforms for Greece, says Finland's Stubb
5. Greeks fork out nearly 5 pct of their incomes on telecom services
6. QE exclusion a Ďde facto Grexití
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.