ECONOMY

Greek central gov’t misses primary budget surplus target by 0.5 bln euros

greek-central-gov-amp-8217-t-misses-primary-budget-surplus-target-by-0-5-bln-euros

Greece’s central government recorded a primary budget surplus of 3.1 billion euros in the first nine months of the year, missing its target due to delays in collecting a property tax, Finance Ministry data showed on Thursday.

The government’s target was for a primary budget surplus – which excludes debt-servicing costs – of 3.6 billion euros for the nine-month period, data showed.

Tax revenues came in at 32.2 billion euros, 4.6 billion euros below a target of 36.8 billion euros.

Public spending stood at 36.2 billion euros, 4.38 billion euros less than targeted as the cash-strapped country cut back on expenditure to meet its obligations.

[Reuters]