Greece’s finance ministry announced a 4.437-billion-euro primary budget surplus for 2016, exceeding a 2.270-billion-euro figure for 2015 and a goal of 1.983 billion.
Net revenues reached 54.038 billion euros, up by 1.686 billion euros above the target, or 3.2 percent higher.
More revenues flowed into Greek state coffers over 2016 on the back of an unprecedented “tax tsunami” that witnessed higher direct taxes on taxpayers and businesses, and increased indirect taxes on a wide variety of services and goods. Cuts in pensions and higher social security contributions rounded out the austerity-driven results for 2016.
Expenditures reached 55.179 billion euros, 791 million euros less than the target.
