Greek state budget deficit down in January

Greece
Wed, 16 Feb 2022 13:54 GMT
Greek state budget deficit shrank to 1.196 billion euros in January, from a budget target for a shortfall of 2.243 billion euros and a deficit of 1.561 billion in the same month last year, the Finance Ministry said on Tuesday. Alternate Finance Minister T...
Greek state budget deficit down in January

Greek state budget deficit shrank to 1.196 billion euros in January, from a budget target for a shortfall of 2.243 billion euros and a deficit of 1.561 billion in the same month last year, the Finance Ministry said on Tuesday.

Alternate Finance Minister Theodore Skylakakis, commenting on the data, said "the development in tax revenue was satisfactory in January despite the fact that the ministry postponed payment of VAT and other taxes for February," adding that January was a difficult month because of the omicron variant and bad weather conditions, a combination that affected economic activity.

More specifically, the state budget recorded a primary surplus of 17 million euros in January, from a budget target for a primary deficit of 1.145 billion euros and a primary deficit of 1.473 billion in the same month 2021.

Net revenue totaled 3.857 billion euros, down 13.6% from budget targets, while regular budget net revenue was 4.089 billion euros, down 13.9% from targets. Tax proceeds totaled 3.888 billion euros, down 5.5% from monthly targets, while tax returns totaled 232 million euros, down 54 million from targets. Public Investment Program revenue was 67 million euros, down 358 million from targets.

State budget spending totaled 5.054 billion euros, down 1.654 billion from monthly targets and down 355 million compared with January 2021.

Source: amna.gr

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