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January-April Experiences Significant Primary Surplus

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Today, Greece confirmed 1.048 billion euros in primary surplus, for 2014's initial four months, that was significantly larger than its 742 million euro budget surplus target.

Alternate Finance Minister Christos Staikouras offered a budget execution report, that determined a 1.144 billion euro deficit for the four month timeframe, compared to last year's 2.426 billion euro deficit. 2013 was also plagued with a budget target deficit of 1.459 billion euros.

The report's analysis revealed that the Greek government is fiscally accelerating. Net state budget funds were 13.844 billion euros in the time period, at a 7.1% comparison rate with budget targets, while 500 million euros are a postponed capital gain return from EU central financial institution's Hellenic bond holdings.

Tax revenues generated 12.784 billion euros, which is 1.6% less than the target. As reported by ANA, the General Accounting Office confirmed that the four month monetary figure was concretely less than the previous three month figure. Tax returns amounted to 906 million euros, a 431 million euro increase from its target amount.

General budget spending declined 8.4%, regarding last year's same time frame. Public Investment Programme financial consumption increased by 398 million euros, with a total of 1.398 billion euros, in relation to budget targets. It increased 562 million euros, since 2013's same time frame.