The Greek central government on Monday reported a primary budget surplus of 2.334 billion euros for the January-April 2018 report, far exceeding a memorandum target, which the finance ministry said was the product of higher than expected revenues and restrained spending.
The target was exceeded by nearly two billion euros, as the fiscal target – excluding debt servicing – for the four-month period was 374 million euros.
Revenues reached 14.42 billion euros, exceeding the target by nearly 700 million euros, whereas spending eased to 15.32 billion euros, a quarter of a billion euros under the budget target.
The memorandum target for 2018 is 3.5 percent of GDP.
The provisional figures, amended on a cash basis, does not include social security fund budgets or local government finances.
