Greek Budget Records Primary Surplus of 4.392 Billion Euros in 2016
Thursday, 19 January 2017
Greek state budget recorded a primary surplus of 4.392 billion euros in 2016, surpassing a primary surplus of 2.270 billion in 2015 and a budget target for surplus of 1.983 billion euros, the Finance ministry said on Tuesday. Regular budget net revenue surpassed budget targets by 1.8 billion euros in the 12-month period, while Public Investment Programe's spnding totaled 2.8 billion euros in December, a significant increase compared with previous months. In December, tax returns surpassed targets by 180 million euros, money channeled to the real economy. The state budget showed deficit of 1.185 billion euros in 2016 (general government), from a shortfall of 3.530 billion in 2015 and a budget target for a deficit of 3.617 billion euros. State budget net revenue totaled 53.968 billion euros, up 3.1 pct from targets, while regular budget net revenue rose 3.8 pct to 49.796 billion euros. Revenue returns totaled 3.265 billion euros, down 22 million from targets. Public Investment Programe revenue amounted to 4.172 billion euros, down 204 million from targets. In December, state budget net revenue totaled 6.026 billion euros, up 114 million from monthly targets, while regular budget net revenue totaled 5.144 billion euros, up 372 million from monthly targets.