Greek State Budget Showed a Primary Surplus of 822 mln Euros in Jan.-Feb.

The Greek state budget showed a primary surplus of 822 million euros in the January-February period this year, from a target for a primary deficit of 196 million euros and after a primary surplus of 2.695 billion euros recorded in the corresponding period last year.

 The state budget (general government) reported a deficit of 1.136 billion euros in the first two months of the year, from a budget target for a deficit of 2.046 billion euros and after a surplus of 1.526 billion euros recorded in the same period in 2018.

 More specifically, net budget revenue totaled 7.833 billion euros in the two-month period, up 4.6 pct from budget targets. Regular budget revenue was 8.463 billion euros, up 4.6 pct from targets. Budget revenue exceeded targets in the categories of VAT (up 7.3 pct), special consumption tax on energy products (1.9 pct), income tax (3.6 pct), other income taxes (6.3 pct), capital taxes (112.8 pct), transfer taxes (34.9 pct). Budget revenue fell short of targets in the categories of: VAT on oil products (8.5 pct), VAT on tobacco products (13.5 pct), special consumption tax on tobacco products (6.6 pct), stamp duties (26.9 pct), other tax on production (22.1 pct), taxes on the sale of goods and services (33.9 pct).