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Greek Budget Records 2.47-Billion-Euro Surplus in First Semester of 2016

The Greek state budget recorded a primary surplus of 2.47 billion euros in the first semester of 2016. The same six-month period last year recorded a primary surplus of 1.884 billion euros, surpassing the budget target for a primary deficit of 1.033 billion euros.

The monthly report of the State Accounting Office, published on Tuesday, showed net revenue at 22.999 billion euros from January until June, up 0.6 percent from budget targets. The regular budget net revenue amounted to 20.971 billion euros, up 3.9 percent from targets. Tax returns totaled 1.471 billion euros in the six-month period, up 180 million euros from targets. Public Investment Program revenues totaled 2.028 billion euros, dropping 642 million euros from targets.

Net revenue in June was at 3.791 billion euros, showing a 183-million-euro decrease from monthly targets. Regular budget net revenue was at 3.708 billion euros, up 15 million euros from previous targets. Tax returns surpassed targets by 52 million euros to 266 million euros in June.

Public expenditure in the first half of 2016 reached 23.996 billion euros, down 3.350 billion euros from targets. Regular budget spending amounted to 22.694 billion euros. The spending figures reflect a decline in primary spending by 2.100 billion euros in the six-month period. Regular budget spending surpassed last year’s levels by 606 million euros.

Source: greece.greekreporter.com