State Registers Primary Budget Surplus for Jan.-July

Greece registered a primary budget surplus of 2.568 billion euros for the period between January and July, while lowering its deficit to 1.917 billion euros for the same period, exceeding targets set for both, the state news agency AMNA quoted Alternate Finance Minister Christos Staikouras as saying earlier this week.

Specifically, the budget deficit for the same seven-month period in 2012 was 13.216 billion euros, while the target for this year was to restrict it to 7.528 billion euros.

At the same time in 2012, the budget had a primary deficit of 3.083 billion euros, and the target for this year was for 3.141 billion euros.

The improvement is attributed to a recovery in revenues during July, Staikouras said, and brings closer the possibility of having a primary budget surplus by the end of the year.

Net state budget revenues, he said, were 30.799 billion euros for January-July this year, an increase by 2.303 billion euros - or 8.1 percent - over the target set.

Net ordinary budget revenues amounted to 26.862 billion euros, or 746 million (2.9 percent) over the targets for the seven months. (AMNA)