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GreekReporter.comGreek NewsEconomy2,282 mln Euro Primary Surplus in May 2016, FinMin Says

2,282 mln Euro Primary Surplus in May 2016, FinMin Says

Greek Current Account SurplusAccording to the data available for the execution of the State Budget on a modified cash basis, the Greek State Budget balance for the period of January – May of 2016 presented a deficit of 814 million Euros, against the target of 2016 Budget of deficit of 3,880 million Euros and the deficit of 1,399 million Euros for the same period of 2015. The State Budget Primary Balance amounted to a surplus of 2,282 million Euros, against the primary deficit target of 820 million Euros and the primary surplus of 1,506 million Euros performed at the same period of the previous year.
State Budget net revenues amounted to 19,208 million Euros, showing an overperformance of 328 million Euros or 1.7% against the target.
Ordinary Budget net revenues amounted to 17,263 million Euros, 773 million Euros or 4.7%, higher than the target.
State Budget expenditures for the period of January – May of 2016 amounted to 20,022 million Euros, 2,738 million Euros lower than the target (22,760 million Euros).
Specifically, ordinary Budget expenditures amounted to 18,908 million Euros and were decreased by 2,367 million Euros against the target, mainly due to the reduction of primary expenditure by 2,056 million Euros.
Ordinary Budget expenditures were decreased compared to the respective period of 2015 by 145 million Euros. Expenditures increased by 97 million Euros for allowance for tackling humanitarian crisis, 138 million Euros for agricultural subsidies and 10 million Euros for military procurement for the Ministry of National Defense.
PIB expenditure amounted to 1,114 million Euros, lower by 371 million Euros than the target.
For May in particular, State Budget expenditures amounted to 3,854 million Euros, 460 million Euros lower than the monthly target, while Ordinary Budget expenditures amounted to 3,659 million Euros, showing an underperformance of 290 million Euros against the monthly target. Public Investment Budget (PIB) expenditure amounted to 195 million Euros showing an underperformance of 170 million Euros against the monthly target.
(source: ana-mpa)

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