Greek budget shows primary surplus of 7.416 bln euros in Jan-Nov
- Written by E.Tsiliopoulos
Greek state budget recorded a primary surplus of 7.416 billion euros in the January-November period this year, from a primary surplus of 4.339 billion in the same period last year and budget target for a surplus of 3.553 billion euros, Finance ministry said on Thursday.
On an amended cash basis, the state budget showed a surplus of 2.023 billion euros in the 11-month period, from a deficit of 1.245 billion last year and a budget target for a shortfall of 1.852 billion.
State budget net revenue amounted to 47.942 billion euros, up 3.2 pct from budget targets, while regular budget net revenue grew 3.3 pct from targets to 44.652 billion euros.
Budget revenues surpassed targets in income tax for individuals (1.9 pct), corporate income tax (13.7 pct) special categories income tax (1.0 pct) and past years direct taxes (2.6 pct). Other direct tax revenue surpassed targets by 2.6 pct, VAT on oil was up 1.0 pct, tax on trading (3.9 pct), tax on tobacco (5.2 pct), other consumption taxes (4.5 pct), indirect taxes (5.2 pct) and EU disbursements (6.9 pct). Other non-tax revenue were up 4.7 pct from targets in the 11-month period.
On the other hand, budget revenue fell short of budget targets in property taxes (0.9 pct), consumption tax on energy (0.9 pct), vehicle registration stamp (20.4 pct) and privatization revenue (26.1 pct).
Tax returns totaled 2.681 billion euros, down 201 million euros from budget targets.
State budget spending amounted to 45.919 billion euros in the January-November period, down 2.373 billion from budget targets in the same period. Regular budget spending was 42.442 billion euros, down 1.290 billion from targets, reflecting a reduction in primary spending by 846 million euros. Spending was 43 million euros compared with the same period last year.
Public Investment Programme spending was 3.476 billion euros, down 1.084 billion from targets, while revenue was 3.290 billion euros, up 54 million euros from targets.
In November, state budget revenue totaled 5.133 billion euros, up 563 million from monthly targets, while regular budget revenue was 4.577 billion euros, up 527 million from targets. Tax returns totaled 295 million euros in November, down 111 million from monthly targets.
State budget spending was 4.422 billion euros in November, down 392 million from monthly targets, while regular budget spending was 3.935 billion euros, down 169 million from monthly targets. Public Investment Programme revenue was 556 million euros, up 36 million from targets, while spending was 486 million euros, down 224 million from targets.
