July public revenues fall half a billion Euros short of budget target

3 August 2016
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According to preliminary data estimates by the Greek Finance Ministry, July’s state revenues fell 513 million Euros short of the target, raising concerns that the dreaded ‘automatic cutter’ would be activated. Incoming state revenues for July 2016 were lower than the last year over the ams month by 714 million Euros, but the fact that the Finance Ministry is still within the budget target over the a 7-monthly term is some consolation. According to the data by the General Accounting office of the state and the General Secretariat of Public Revenues, 4,854bln Euros entered the state coffers, instead of the goal of 5,367bn net, falling short by just over half a billion.

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