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Greece January-April primary surplus 2.3 billion euros

Staff Writer |
Greece’s state budget posted a primary surplus of 2.3 billion euros in the January-April period, beating by far the budget target which is for a surplus of 374 million euros, according to preliminary data on a modified cash basis released by the Finance Ministry.

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In the respective period of 2017, the primary position was positive by 1.7 billion euros.

The budget balance showed a surplus of 193 million euros against a target of 1.76 billion euros in deficit.

State budget net revenues exceeded the target by 8.4% or 1.2 billion euros, amounting to 15.5 billion euros. In April alone, net revenues exceeded the target by 269 million euros.

Ordinary revenues, which exclude receipts from social security organisations and local governments, beat the target by 689 million euros, reaching 14.4 billion euros.

In April ordinary revenues outperformed the target by 282 million euros.

Tax refunds amounted to 1.3 billion euros, or 210 million euros above the target.

PIB revenues stood at 1.1 billion euros, 516 million euros above the budgeted target, while state spending amounted to 15.3 billion euros, 751 million euros below target.

Also, PIB spending reached 504 million euros, falling short of the target by 556 million euros.

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