Tuesday , March 9 2021

The primary surplus doubled the target – in October – the Greek economy of 6.4 billion



The target almost doubled, the primary surplus reached 6.46 billion euros compared with the target of reaching 3.58 billion surplus in line with budget execution rates. Reduced target is expenditure, increased revenues, but lower than target, to 1.68 billion RDP revenue.

In detail, according to the provisional budget execution figures for the period from January to October 2018, a surplus of € 1.65 billion in the state budget balance is recorded in line with the deficit target of € 1.127 billion included in the MTBI Explanatory Report 2019-2022 for the respective 2018 period and a surplus of EUR 144 million for the period in question in 2017.

The main result was a surplus of EUR 6,460 billion compared to the primary surplus target of EUR 3,584 billion and a primary surplus of EUR 5.3 billion for the period in question in 2017.

The net revenue from the state budget amounted to EUR 42.436 million, which is by 839 million euro or 2% compared to the target.

Net revenue from the budget amounted to EUR 40 753 million, an increase of EUR 1 585 million, or 4.0%, compared with the target.

Revenues (excluding repayments from the debt settlement program) amounted to EUR 3,097 million, decreasing by EUR 770 million compared with the target (EUR 3 866 million). This decrease is due to the fact that a significant amount of reimbursement was financed by the maturity adjustment program and therefore not included in the target.

Public investment budget (PIB) revenues amounted to 1683 million euros, compared to the target of 746 million euros.

In particular, in October 2018 total net government revenue amounted to EUR 5 222 million, an increase of EUR 263 million compared to the monthly target.

The net revenue from the budget amounted to EUR 5 108 million, with the monthly target of EUR 576 million increasing.

PIP revenue reached EUR 114 million, compared to the target of EUR 314 million.

Income earnings in October 2018 (excluding repayment from the debt settlement program) amounted to EUR 146 million, down 262 million euros compared to a monthly target of EUR 409 million.

Costs from the national budget for the period January to October 2018 amounted to EUR 40,786 million and decreased by EUR 1,393 million compared with the target of EUR 42,725 million. Namely, the normal budget expenditure amounted to EUR 38 696 million and decreased by EUR 618 million compared with the target. The reduction target was primarily expenditure on MFA defense programs for EUR 234 million and agricultural subsidies of EUR 147 million. Part of the initial appropriations for agricultural subsidies concerned programs that are currently being implemented under a public investment program.

The state budget expenditure has been increased by 358 million euros compared to the corresponding period of 2017. An additional EUR 230 million was paid for social solidarity income and EUR 203 million for family benefits.

Expenditure on WFP amounted to 2,089 million euro compared to the target of 1,321 million euro.

In particular, government spending in October amounted to 3,850 million euro and fell by 396 million euro compared to the monthly target, while regular budget expenditure amounted to 3 433 million euro and decreased by 313 million euro compared with the monthly target. The public investment budget (EDP) expenditure amounted to EUR 417 million and decreased by EUR 83 million compared to the monthly target.


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