Greece Sees €2.3B Budget Surplus in Q1 2018



Greek Finance Ministry, Athens.

Greece’s state budget primary surplus totaled €2.320 billion ($2.873 billion) in January-March this year, up from a budget target for a primary surplus of €1.096 billion and a primary surplus of €1.070 in the same period last year, the Finance Ministry said on Monday.

In a report on the provisional state budget execution data, on an amended cash basis, the budget showed a surplus of €408 million in the three-month period from a budget target for a deficit of €816 million and a shortfall of €1.364 billion in the same period in 2017.

State budget net revenue was €12.112 billion, up 7.9 percent from budget target, while regular budget net revenue was €11.052 billion, up 3.4 percent from targets.

Tax returns totaled €1.079 billion, up €227 million from budget targets, while Public Investment Programme revenue was €1.060 billion, up €529 million from targets.

Budget spending in the January-March period totaled €11.704 billion, down €335 million from targets, while regular budget spending was €11.356 billion, down €2.0 million from targets.

State budget spending was down €1.077 billion compared with the same period last year. Public Investment Programme spending was €348 million in the three-month period, down €332 million from targets.

In March, the state budget showed a net revenue of €3.138 billion, down €244 million from monthly targets, while regular budget net revenue was €2.753 billion, down €315 million from targets.

Public Investment Programme revenue was €385 million euros, up €71 million euros from targets.

Tax returns were €360 million, up €117 million from monthly targets. State budget spending was €4.271 billion in March, down €25 million from monthly targets, while regular budget spending was €4.111 billion, up €110 million from targets.

Public Investment Programme spending was €161 million, down €134 million from targets.

(Source: AMNA)