Greek budget execution: July 2017 revenues lag behind target by 729 mln€

17 August 2017
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Figures released this week by the Greek finance ministry showed a significant lag in collected public revenues for last month, July 2017, compared with the target.

Specifically, the a “gap” of 729 million euros appeared for the month, which commences the crucial six-month period for execution of the 2017 state budget, given that the half-year period coincides with tax returns – for individuals and businesses – as well as property taxes.

On a seven-month basis, revenues trail the target for the specific period by 656 million euros, whereas the primary budget surplus figure remains above target – 3.053 billion euros, from a goal of 2.098 billion euros. The over-performance for the primary budget surplus is due to lower spending.

Over the last five months of 2017, the Greek state must collect 25.387 billion euros, as foreseen in the budget, which is 5.077 billion euros on a monthly basis.

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