Greek budget shows primary surplus of €1.936 billion during H1

Greek state budget recorded a primary surplus of 1.936 billion euros in the first half of 2017, from a primary surplus of 1.632 billion in the same period last year and a budget target for a surplus of 431 million euros, officials said on Friday.

A report on budget execution recorded that the general government?s deficit was 1.597 billion euros in the January-June period, from a deficit of 1.852 billion last year and a budget target for a shortfall of 3.092 billion euros.

State budget net revenue reached 22.174 billion euros, up 0.2 pct from budget targets. Regular budget net revenue was 21.338 billion euros, up 0.3 pct from targets, while tax returns was 1.845 billion euros, up 136 million from targets. Public Investment Program revenues was 836 million euros, down 22 million from targets.

State budget spending was 23.771 billion euros in the six-month period, down 1.443 billion from targets, while regular budget spending was 22.863 billion euros, down 1.149 billion from targets. Regular budget spending was down 757 million euros compared with the same period last year. Public Investment Program spending was 908 million euros in the first half of 2017, 294 million euros lower from budget targets.

In June, state budget net revenue reached 3.493 billion euros, up 53 million from monthly targets, while regular budget revenue was 3.423 billion euros, up 79 million from targets. Public Investment Programe revenue was 69 million euros, down 26 million from targets. Tax returns totaled 272 million euros, up 29 million from monthly targets.

State budget spending was 3.847 billion euros during June, down 428 million from targets, while regular budget spending was 3.694 billion, down 361 million euros from monthly targets. Public Investment Program spending was 153 million euros, down 67 million from monthly targets.