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Greece Posts Budget Surplus of Over €2.7B

A banner placed by protesters of the Communist-affiliated trade union PAME hangs on the Finance Ministry building during an anti-austerity and anti-government protest in Athens. EPA/ORESTIS PANAGIOTOU
Greek Finance Ministry (file photo)

Greece’s state budget showed a primary surplus of over €2.7 billion ($3.4 billion) in the January-February period, the country’s finance ministry said on Wednesday.
This is up from a budget target for a primary surplus of €1.3 billion and a primary surplus of €2.1 billion in the corresponding period last year.
The state budget showed a surplus of €1.5 billion in the first two months of the year, from a surplus of €434 million in the same period last year and a budget target for a surplus of €98 million.
Net revenue amounted to €8.9 billion in the two-month period, up 14.5 percent from targets, while regular budget net revenue totaled €8.307 billion, up 9.0 percent from targets.
Tax returns totaled €719 million, up €110 million from budget targets, while Public Investment Programme revenue amounted to €669 million, up €452 million from targets.
State budget spending amounted to €7.433 billion in the January-February period, down €310 million from targets.
Regular budget spending amounted to €7.246 billion, down €112 million from targets and down €476 million compared with the same period in 2017.
Public Investment Programme spending totaled €187 million in the two-month period, down €198 million from targets.
In February, net revenue was €4.223 billion, up €275 million from monthly targets, while regular budget net revenue was €4.159 billion, up €322 million from targets (boosted by the collection of an annual dividend worth €614.2 million from the Bank of Greece, up €214.2 million from targets).
The Public Investment Programme totaled €64 million in February, down €47 million from targets, while tax returns totaled €394 million, up €116 million from monthly targets.
State budget spending was €4.257 billion in February, down €95 million from monthly targets, while regular budget spending was €4.154 billion, up €11 million from targets.
Public Investment Programme spending was €104 million, down €106 million from monthly targets.
(Source: AMNA)

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