The Bank of Greece issued an announcement today according to which the Greek state’s borrowing needs are gradually being restricted, indicating that the budget has a primary surplus in the first quarter of the year.
Specifically, in the three-month period between January and March 2014, the central government had a 1,141 million euro deficit, compared to a 2,760 million euros deficit in the first quarter of 2013.
During this period, the regular budget revenue increased to 10,529 million euros, from 10,250 million euros in 2013. This does not include 62 million euros from the transfer of Greek government bond yields from the Eurosystem’s central banks.
As for regular budget expenses, they were reduced to 12,595 million euros from 13,889 million euros in the first quarter of 2013.
This sum includes the 99 million euros related to the payment of outstanding debts.
Overall, the state budget’s primary surplus (771 million euros) comes to 932 million euros, if the 62 million euros from the transfer of Greek government bond yields from the Eurosystem’s central banks and the 99 million euros related to the payment of outstanding debt are included.
(source: ANSA)
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