Greek state exceeds primary budget surplus target for Q1 on the back of lower spending

Monday, 16 April 2018 22:34

The German Bundesbank presents the new 50 euro banknote at it's headquarters in , Germany, July 13, 2016. REUTERS/Ralph Orlowski

Provision data  regarding the execution of the Greek state budget over the first quarter of the year revealed a primary budget surplus of 2.32 billion euros, far exceeding a target of 1.096 billion euros listed in the state budget for 2018.

The same figure for the first quarter of 2017 was 1.07 billion euros.

Net revenues in the state budget in Q1 reached 12.112 billion euros, up by 889 million euros (7.9 percent) from the target.

Net revenues in the regular budget reached 11.052 billion euros, up by 361 million euros, or 3.4 percent above the target.  

The public investment program expenditures reached 1.060 billion euros in Q1 2018, up by 529 million over the target.

Spending for the same quarter reached 11.704 billion euros, down by 335 million euros from the prescribed goal of 12.039 billion euros.

For March 2018 alone, net revenues in the state budget reached 3.138 billion euros, down by 244 million euros from the monthly target.

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