Greece Off Fiscal Target for October Showing €808 Mln Deficit

greek_finance_ministryGreek state budget for the period January-October 2015 showed a 808-million-euro deficit after a preliminary estimate.

However, the deficit for the same period in 2014 was 2,448 million euros, while the revised target for the 2016 draft budget is estimated at 2,881 million euros.

Primary surplus for this period is at 4,517million euros, against a primary surplus of 2,654 million euros for the same period in 2014 and a revised target of 2,425 million.

Net revenue amounted to 39.740 million euros, showing a 2,121 million euros drop, or 5.1 percent against the revised target.

Revenue returns amounted to 2,278 million euros, a decrease of 343 million euros against the revised target (2,621 million euros).

Revenues from the Public Investments Program amounted to 3,095 million euros, down by 208 million euros against the revised target.

In October 2015 total net revenues of the state budget amounted to 5,448 million euros, down by 72 million compared to the revised monthly target.

Revenue returns for October 2015 amounted to 257 million euros, decreased by 120 million against the revised monthly target (377 million euros).

State budget expenditure amounted to 40,548 million euros, decreased by 4,194 million against the target (44,742 million euros).


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