Greek budget recorded primary deficit of 6.201 billion euros in Jan-April

26 May 2021
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Greek state budget recorded a deficit of 8.797 billion euros in the January-April period, up from a budget target for a deficit of 7.768 billion and a shortfall of 4.072 billion euros in the corresponding period in 2020.

The Finance ministry, in a report, said that the primary result was a deficit of 6.201 billion euros in the four-month period, up from a budget target for a primary deficit of 5.248 billion and a primary shortfall of 1.516 billion in the same period last year.

Net revenue was 15.125 billion euros, down 3 pct from budget targets, while regular budget revenue was 16.468 billion, down 2.5 pct from targets. Tax revenue was 13.939 billion euros in the four-month period, down 1.2 pct from targets. Tax revenue exceeded targets in the categories of: special tax on tobacco products (5.1 pct), stamp tax (19.4 pct), tax on financial and capital transactions (28 pct), vehicle registration taxes (29.2 pct), other taxes on goods (115.3 pct), other taxes on production (6.3 pct), income tax (1.8 pct), other current taxes (114.8 pct) and other tax revenue (67.1 pct). Tax revenue fell short of targets in the categories of: VAT on oil products (12 pct), VAT on other products and services (8.2 pct), special consumption tax on energy products (13.3 pct), special consumption tax on other products (9.9 pct), tax and duties on imports (17.2 pct), property taxes (12.2 pct), corporate income tax (12.6 pct), transfers (13.9 pct), selling of fixed assets (99.1 pct).

Tax returns totaled 1.343 billion euros, up 46 million from targets, while Public Investment Programme revenue was 1.343 billion euros, down 344 million euros from targets.

State budget spending was 23.922 billion euros in the January-April period, up 2.4 pct from targets but up by 5.750 billion euros compared with the same period in 2020.

In April, budget revenue was 3.616 billion euros, up 191 million from monthly targets, while regular budget revenue was 3.976 billion euros, up 301 million from targets. Tax revenue was 3.429 billion euros, up 5.5 pct from monthly targets, while tax returns totaled 360 million euros, up 110 million from targets. Public Investment Programme revenue was 231 million euros, down 41 million from monthly targets.

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