Greece Reports 3.2 Bln Euros Primary Surplus in Jan-July

The Greek government on Wednesday reported a primary surplus of 3.2 billion euros, or 1.8 pct of GDP, in the January-July period this year, from a primary surplus of 1.8 billion, or 1.0 pct of GDP in the corresponding period in 2013.

According to official figures, the state's overdue debt to the private sector fell to 3.91 billion euros at the end of July, from 4.58 billion euros a month earlier, falling the 4.0 billion level for the first this year. Including tax returns, the state's overdue debt to the private sector fell to 4.655 billion euros form 5.254 billion euros in June. Overdue debt by pension funds fell by around 700 million euros to 2.293 billion euros, while overdue debt by local authorities fell to 357 million euros in July from 388 million in June. On the other hand, overdue debt by state hospitals rose to 819 million euros in July form 790 million euros in June.

Finance Alternate Minister Christos Staikouras, commenting on the figures said that the country continues moving within a fiscal framework of an economic program for the second successive year thanks to the sacrifices made by households and enterprises. The creation of primary surplus offered the necessary basis for economic growth and social justice and cohesion.