Greece’s budget surplus exceeded the target for January, helped by better-than-expected revenue and lower-than-forecast outlays, data from the Finance Ministry showed on Monday.
The national budget recorded surplus of 1.077 billion euros on an amended cash basis in January, up from a surplus of 367 million euros in January 2015 and a budget target for a surplus of 197 million, the Finance ministry said on Monday.
State budget net revenue totaled 4.219 billion euros in January, up 10.4 pct from targets, while regular budget net revenue amounted to 3.654 billion euros, down 0.2 pct from budget targets.
Budget outlays for the same period reached €3.1 billion, lower than a €3.6 billion target, the ministry added.
Primary surplus in January
The budget also recorded a primary surplus of 1.193 billion euros in January, from a primary surplus of 443 million last year and a budget target for a primary surplus of 307 million euros.
The state budget only takes into account the operations of Greece’s central government and doesn’t include general government accounts, which comprise local government, a portion of military spending as well as some social welfare expenditure.
Tax returns totaled 296 million euros in January, down 49 million euros from budget targets, while Public Investment Programme revenue amounted to 565 million euros, up 405 million from targets.
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