Budget primary surplus at 3.05 bln in 7-month, above target on underspend
Building activity up by 45.7 pct in May, highest since Dec 2005
Eurosystem funding drops by 3.9 bln in July on big decline in ELA
Unemployment at 21.7 pct in May after revised April figure
CPI up by 1 pct in July for seventh straight rise
Car sales increase by 28.3 pct in July
Lower spending, extra revenues result in budget execution beating targets in March
Greece’s budget execution showed the 3-month primary surplus rose to 1.74 billion euros, up 12.6 percent, while the 2-month underperformance of 173 million turned to an over-performance of 1.62 billion, according to the Finance Ministry (MoF) preliminary budget bulletin published on Thursday.
The year to date primary surplus outperformance is mainly attributed to lower primary expenditure (by 1.18 billion) and higher Public Investment Budget (PIB) surplus (by 856 million) more than offsetting lower revenues (by 386 million).
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