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National Bank of Greece Publishes First Quarter Report

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Yesterday, The National Bank of Greece published a report that confirmed the budget's cash results for the first quarter of 2014, which hold a 771 million euro primary surplus.

The amount enlarged to 932 million euros, when bond earning transfer revenues and the elimination of expired debt deposits are combined.

The national cash deficit's value stands at 1.14 billion euros, while last year's same time frame stood at 2.76 billion euros. Additionally, the National Bank declared that the present account balance revealed a 709 million euro deficit in February of this year, which was an extra 25 million euros, compared to February 2013.

The magnified deficit was due to additional International Monetary Fund and European Financial Stability Facility loan interest payments. In the first quarter of 2014, the contemporary account balance stood at 1 billion euros; an additional 6 million euros compared to last year's first quarter.