Primary budget surplus over double the forecast for 10-month term

18 November 2019
83 Views

According to figures released today by Deputy Minister for Financial Policy Theodoros Skylakakis, the January-October 2019 primary surplus amounted to € 5.755 billion and was more than double the target (€ 2.314 billion) and significantly higher than the corresponding quarter of 2018 (€ 3,811 euros).

October’s net revenue, as Mr Skylakakis noted, increased by 71m euros, an amount slightly higher than projected in the preliminary draft budget.

In the 10-month period, net revenues of the state budget exceeded € 1,666 billion or 4% over the target set for 2019 in this year’s report, reaching € 43,383 billion.

This significant increase is mainly due to the € 1.119 billion collection of the extension (excluding VAT) of the Athens International Airport concession, which was originally estimated to be received in 2018, and to the collection of € 644 million in profits of bonds (ANFAs, SMPs) last May, which were not foreseen in this year’s budget.

Data of aggregate state budget revenues, which totaled € 47,317 billion, up by € 2,024 billion or 4.5% against the target, showed a significant increase in tax revenue.

You may be interested

The Ancient Greek roots of Feta Cheese
GREECE
shares1648 views
GREECE
shares1648 views

The Ancient Greek roots of Feta Cheese

Panos - Dec 09, 2019

As Greece fights to maintain the name of feta cheese as a Protected Designation of Origin (PDI) product, the Real…

Artwork of banana sold for $120,000 eaten by another artist
ART
shares16 views
ART
shares16 views

Artwork of banana sold for $120,000 eaten by another artist

Panos - Dec 09, 2019

An artwork of an overripe banana duct-taped to a wall that sold for $120,000 (£91,000) has been eaten by a…

Greek boy, 8, with 148.5 IQ is little “Einstein”
GREECE
shares18 views
GREECE
shares18 views

Greek boy, 8, with 148.5 IQ is little “Einstein”

Panos - Dec 09, 2019

He is only eight years old and can calculates complex mathematical calculations in a matter of seconds. Tasos Gerantidis, a…

Leave a Comment

Your email address will not be published.