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Greek Budget: Primary Surplus Higher Than Target for January – August Period


The Greek state budget showed a primary surplus of €3.157 billion ($3.718 billion) in the January-August period, down from a primary surplus of €3.544 billion ($4,174 billion) in the same period last year, but up from a budget target for a surplus of €917 million ($1,080 billion).
The Greek Finance Ministry, in an announcement, said that the state budget (general government) showed a deficit of €1.220 billion in the eight-month period, down from a budget target for a shortfall of €3.384 billion and a deficit of €1.271 billion last year.
More specifically, budget revenue exceeded targets in the categories of: special category income tax (5.1 percent), property taxes (5.8 percent), direct taxes (8.4 percent), VAT on oil products (8.8 percent), other transaction taxes (6.9 percent), vehicle registration stamp (14.3 percent), other special consumption taxes (0.8 percent), indirect taxes (20.5 percent), EU receipts (23.3 percent), other non-tax revenue (8.9 percent).
On the other hand, budget revenue fell short of targets in the categories: income tax (0.6 percent), corporate tax (23.7 percent), other indirect taxes (93.0 percent), special consumption tax on energy products (0.7 percent), and privatization revenue (9.1 percent).
The Public Investment Program revenue was €1.435 billion ($1,690 billion), down €166 million ($195 million) from targets.
With information from A.M.N.A. 


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