Greek Jan-June primary budget deficit narrows y/y, beats target

Greece said on Wednesday its budget deficit at the central government level more than halved in the first six months of the year, remaining on track to meet fiscal targets under the country’s international bailout.

The reading, which excludes the budgets of local authorities and social security organizations, 1.5 billion euros, down from 3.3 billion euros in the year-earlier period, Deputy Finance Minister Christos Staikouras told reporters. That compared to an interim target of 3.9 billion euros. [Reuters]