Greek budget primary surplus amounted to 2.679 billion euros in the first quarter of 2016, up from a surplus of 1.732 billion in the same period last year and sharply up compared with a budget target for a primary surplus of 1.095 billion euros.
The Finance ministry, in a report on budget execution –on an amended cash base- said the state budget showed a surplus of 222 million euros in the January-March period, from a deficit of 503 million euros last year and a budget target for a deficit of 1.335 billion euros.
State budget net revenue amounted to 12.503 billion euros in the three-month period, down 0.6 pct from targets, while regular budget net revenue totaled 10.949 billion euros, up 3.6 pct from targets.
Tax returns totaled 762 million euros in the January-March period, down from a budget target of 773 million euros. Public Investment Programme revenue was 1.554 billion euros, down 446 million from targets.
State budget spending was 12.282 billion euros in the first three months of the year, down 1.626 billion from targets, while regular budget spending totaled 11.702 billion euros, down 1.546 billion from targets. Regular budget spending was down 278 million euros from the same period last year. Public Investment Programme spending was 580 million euros, down 80 million from targets.
In March, state budget net revenue was 2.881 billion euros, down 1.030 billion from targets, while regular budget revenue was 2.849 billion, up 58 million from targets. Tax return totaled 218 million euros, up 34 million from monthly targets. Spending was 3.980 billion euros, down 651 million from monthly targets, while regular budget spending was 3.760 billion euros, down 586 million from targets. Public Investment Programme spending was 220 million euros in March, down 65 million from monthly targets.
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