ECONOMY

Greek central gov’t budget surplus below target in 2015

greek-central-gov-amp-8217-t-budget-surplus-below-target-in-2015

Greece’s central government registered a primary budget surplus of 2.26 billion euros last year, missing its target by 990 million euros as revenues fell, Finance Ministry data showed on Friday.

The central government surplus excludes the budgets of social security organizations and local administrations and is different from the figure monitored by Greece’s EU/IMF lenders, but indicates the state of the cash-strapped country’s finances.

The government’s target was for a primary budget surplus – which excludes debt-servicing costs – of 3.25 billion euros for the January-December period.

Tax revenues came in at 46.58 billion euros, 2.03 billion euros below a target of 48.61 billion euros, as the government did not receive budgeted income from eurozone central banks holding Greek government paper.

[Reuters]