Greek state budget shows primary surplus of 5.7 billion euros
Greece
Mon, 18 Nov 2019 11:22 GMT
The Greek state budget recorded a primary surplus of 5.755 billion euros in the January-October period, significantly exceeding a budget target for a surplus of 2.314 billion euros in the same period, the General Accounting Office said in a report on Mond...
The Greek state budget recorded a primary surplus of 5.755 billion euros in the January-October period, significantly exceeding a budget target for a surplus of 2.314 billion euros in the same period, the General Accounting Office said in a report on Monday.
Finance ministry officials said that based on the final data on budget execution in October, due for release next week, Finance Minister Christos Staikouras and Deputy Finance Minister Theodoros Skylakakis will brief the prime minister in order to make a decision on the distribution of a social dividend. The government will also table in Parliament the draft budget for 2020, which envisages a slightly higher fiscal space that will be used to pay state arrears to the Public Power Corporation and tax returns to enterprises.
Presenting the budget execution figures, Skylakakis said October revenue was higher than monthly targets by 71 million euros, in line with provisions on the primary surplus included in a draft budget plan. He noted that tax revenues were slightly higher, while spending was lower, both related to the execution of the Public Investments Programme. State budget net revenue exceeded targets by 1.666 billion euros in the 10-month period, while tax returns were up 358 million euros from targets and budget spending was 2.152 billion euros less than targets.
