ECONOMY

January budget surplus beats target

january-budget-surplus-beats-target

Greece’s central government registered a primary budget surplus of 1.193 billion euros (0.92 billion pounds) in January, beating its target by 886 million euros, helped by lower outlays and higher inflows by EU funds, finance ministry data showed on Monday.

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 country’s finances.

The government’s target was for a primary budget surplus – which excludes debt-servicing costs – of 307 million euros for January.

Tax revenues came in at 3.65 billion euros, broadly in line with a target of 3.66 billion euros. [Reuters]