Greek budget records €3.756 billion primary surplus in January-August

The Greek state budget recorded a primary surplus of 3.756 billion euros in the January-August period this year, from a surplus of 3.798 billion in the same period last year and a budget target for a surplus of 980 million euros, official figures showed on Tuesday.

In the eight-month period revenue surpassed targets by 494 million euros, while in August regular budget revenue surpassed monthly targets by 62 million.

The general government’s deficit was 1.035 billion euros in the January-August period, from a deficit of 1.104 billion euros in the same period last year and a budget target for a deficit of 3.880 billion euros.

Net state budget revenue was 31.950 billion euros, down 1.8 pt from targets. Regular budget net revenue was 29.883 billion, up 1.6 pct from targets. Tax returns (excluding returns from a state arrears settlement program) was 1.907 billion euros in the six-month period, up 97 million from targets. Public Investment Programme revenue was 2.067 billion euros, down 1.048 billion from budget targets.

In August, state budget net revenue was 3.952 billion euros, up 58 million from monthly targets, while regular budget net revenue was 3.932 billion euros, up 62 million from targets. Tax returns in August amounted to 187 million euros, down 122 million euros from the previous month.

State budget spending in the January-August period totaled 32.985 billion euros, down 3.429 billion from targets, while regular budget spending was 30.813 billion euros, down 2.546 billion from targets.

Regular budget spending were up compared with the same period last year (+507 million euros). Public Investment Programme spending was 2.172 billion euros, down 883 million from targets. State budget spending was 4.155 billion euros in August, down 133 million from targets, while regular budget spending was 3.688 billion euros (down 151 million).