State Budget showed a primary surplusfor the seven-month period January - July 2014 amounting to 2.3 billion euros or 1.25% of GDP, against a target of 800 million euros or 0.4% of GDP, as announced today by the Deputy Minister Finance Christos Staikouras.
It therefore even exceeded the update of this year's target of 1.5 billion euros. Meanwhile, according to the Greek Statistical Authority, the Greek economy moved more positively than expected in the second quarter, with the recession standing at 0.2% of GDP.
The primary surplus of the general government, according to data for the first half of this year, announced last week, stood at 1.8 billion euros from 1.9 billion euros primary deficit a year earlier.
According to the same document, the budget deficit stood at 1.7 billion euros or 0.95% of GDP against a target deficit of 3.4 billion euros or 1.8% of GDP.
It therefore exceeded the improved, updated, this year's target by about 1.6 billion euros.