State spending reduced in Jan. 2018, compared to same month in 2017

Thursday, 15 February 2018 10:48

State spending in the first month of 2018 reached 3.176 billion euros, reduced by 215 million euros from the same month in January 2017 (3.391 billion euros).

Regular budget expenditures reached 3.092 billion euros, reduced by 123 million euros compared to a relevant target. Regular budget spending was down 206 million euros, compared with January 2017.

Some 67 million euros of a so-called "social solidarity" income tax - one of the austerity measures taken in a 2016 "tax tsunami" unleashed by the leftist-rightist coalition government - were allocated in January 2018, along with 19 million euros in farm subsidies.

Spending via a public investments program reached a paltry 83 million euros, down from a target of 92 million euros.