The Greek state budget showed a primary surplus of 5.355 billion euros in the January-October period, from a primary surplus of 4.859 billion in the same period last year and a budget target for a surplus of 5.329 billion, the Finance ministry said in a report on budget execution in an amended cash basis, released on Tuesday.
The report said that the state budget balance showed a surplus of 169 million euros in the 10-month period, from a deficit of 342 million in 2016 and a budget target for a surplus of 71 million euros.
Net revenue was 40.597 billion euros in the 10-month period, down 6.5 pct from budget targets, while regular budget net revenue was 39.268 billion euros, down 5.5 pct from targets. The Finance ministry attributed this development to increased tax returns of 4.492 billion euros, up 1.964 billion from targets, and an one-month delay in payment of the first instalment of a special property tax in September instead of August as originally planned.
Public Investment Programme’s revenue was 1.328 billion euros, down 577 million from targets.
State budget spending was 40.428 billion euros in January-October, down 2.940 billion from targets, while regular budget spending was 38.449 billion euros, down 1.852 billion from targets. Regular budget spending was down 1.814 billion compared with the same period in 2016. The Public Investment Programme’s spending was 1.979 billion euros in the January-October period, down 1.087 billion from targets.
In October, state budget net revenue was 4.570 billion euros, down 489 million from monthly targets, while regular budget net revenue was 4.512 billion euros, down 13 million from targets. The Public Investment Programme’s revenue was 57 million euros, down 476 million from targets. Tax returns totaled 415 million euros in October, up 202 million from monthly targets. State budget spending was 4.074 billion euros in October, down 622 million from monthly targets, while regular budget spending was 3.872 billion euros, down 256 million from targets. The Public Investment Programme’s spending was 201 million euros, down 366 million from monthly targets.