The Greek state budget easily passed its goal of a 1.907 billion-euro primary budget surplus by recording a surplus of 5.44 billion euros from January to September 2016. The figure is up from a 3.072-billion-euro surplus during the first nine months of 2015.
During this time, net revenues reached 37.82 billion euros, an increase of 514 million euros (up 1.4 percent from the forecast target). Expenditure was restricted to 37.23 billion euros, reducing 3.1 billion euros from the target of 40.33 billion euros.
Public debt in Greece rose to 179.2 percent of GDP in the second quarter of 2016, increasing from 176.1 percent in the first quarter, according to data released by Eurostat on Monday. In the Eurozone, public debt eased to 91.2 percent of the average GDP in Q2 down from 92.1 percent in the first quarter.
Greece’s public debt was at 179.2 percent, posting the highest public debt rate in the EU, followed by Italy (135.5 percent) and Portugal (131.7 percent), while Estonia (9.7 percent), Luxembourg (22 percent) and Bulgaria (29.4 percent) recorded the lowest rates.