Net revenues over the first four months of the year were off by 152 million euros from target, with the total standing at 14.567 billion euros, down from the prescribed 14.719 billion euros.
The shortfall is due to lower revenues from forecast privatizations, as 956 million euros flowed in state coffers over the Jan-Apr period, but short of the 1.367 billion euros that were written in the 2017 budget for the corresponding period.
Additionally, stepped up tax returns also caused the target to be missed, as 1.262 billon euros were disbursed to taxpayers, higher than the forecast 978 million euros.
A primary budget surplus of 1.735 billion euros was posted during the budget’s execution over the same four-period period, slightly down from a 1.906-billion-euro surplus posted in the corresponding period of 2016, and significantly up from a target of 798 million euros.
