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Greek government announced €603 million primary surplus for 2013

Greek government announced €603 million primary surplus for 2013

Review Hari Stefanatos

The greek government will try to use the final budget implementation data of 2013 that show a primary surplus of €603 million as a bargaining chip in the eurogroup meeting on January 27. The Greek Minister of Finance, Yannis Stournaras, is expected to present these figures for lack of an agreement with the troika.

These numbers make for a strong case since they were challenged by the Troika, while it is also a requirement in order for the European partners to proceed with measures that will alleviate the greek dept.

The tax revenues have been supported exclusively by property taxes, while a major factor in the achievement of the primary surplus was the reduction in expenditure by 15%.

According to the final figures for the execution of the state budget, on a cash basis after reviewing the targets, for 2013:

the primary balance was in surplus of €603 million against a primary deficit of €3.464 million for the same period in 2012 and a revised target for the primary surplus of €15 million.

together with the interest payments, there is a deficit in the balance of the state budget of €5,441 billion against a deficit of €15.688 billion in 2012 and revised deficit target of €6,085 billion

Τhe Ministry of Finance announced that:

the level of net revenues of the state budget amounted to €53.018 billion, which represents  a decrease of €224 million or 0.4% over the revised target (€53.242 billion).

the net revenues of the regular budget amounted to €48.423 billion, €317 million or 0.7% higher compared to the estimated outturn of 2013 (€48.106 billion), while

all tax revenues amounted to €44.614 billion, exceeding the target by €211 million.

(Source protothema)

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