Greece posts 1.6 bln primary budget surplus in Jan-Mar, beats target

Greece’s central government posted a primary budget surplus, before interest payments, of 1.6 billion euros ($2.22 billion) in the first quarter, widening by more than three times from the same period last year, Deputy Finance Minister Christos Staikouras said on Monday.

The reading was also far above an interim 878 million euro surplus target for January to March, Staikouras said.

The central government excludes the budgets of social security organisations and local administrations.