General gov't primary surplus shrinks to 419 mln in January

EconomyMacroeconomy Tags: Budget, MoF, Revenues, Taxes

The Greek general government (gg) primary cash balance showed the surplus shrinking to 419 million euros in January 2015, much lower than the 1.88 billion euros posted in January 2014, according the gg bulletin published by the Ministry of Finance (MoF).

The fiscal deterioration in state budget and extrabudgetary funds was mainly due to a drop in revenues. Local governments posted a rise in revenues by 24 percent, yet the increase in expenditure was much higher at 56 percent.

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