Greece Reports Primary Surplus of 1.929 Billion Euros in 2014

The Greek government on Wednesday reported a primary budget surplus of 1.929 billion euros in 2014, up from a primary surplus of 603 million euros in 2013, but down compared with a 2015 budget provision for a primary surplus of 4.939 billion euros.

The finance ministry, in a report, said that according to provisional data of state budget execution, on an amended cash basis, the state budget balance showed a deficit of 3.640 billion euros in the January-December 2014 period, from a deficit of 5.441 billion euros in the previous 12-month period and a revised budget target for a shortfall of 761 million euros.

Net state budget revenue totaled 51.327 billion euros, down 7.2 pct from 2015 budget provisions, while net regular budget revenues were down 7.0 pct from budget targets to 46.620 billion euros.

Tax returns totaled 3.370 billion euros in 2014, up 234 million euros from budget targets, while the Public Investment Programme’s revenue totaled 4.707 billion euros, down 424 million euros from budget targets.