Revised GDP data shows recession for 2016, higher growth in 2014
Budget primary surplus at 4.5 bln in 9-month, below target on lower revenues, higher tax refunds
Eurosystem funding falls by 3.58 bln in September
New overdue tax obligations at 1.07 bln in August, total at 98.23 bln
Building activity falls by 2.4 pct in July
Travel balance posts surplus of 3.15 bln in H1 2017
Budget primary surplus of 1.1 billion slightly outperforms target by 77 million in Q1
The budget primary surplus was confirmed at 1.07 billion in the first quarter (Q1) down by 42.6 percent from last year’s figure of 1.86 billion, according to the Finance Ministry (MoF) final budget execution bulletin.
As we noted in the preliminary figure published on April 18, the year to date outperformance was materially slashed from 1.27 billion in the 2-month period to only 77 million in Q1 mostly due to privatisation revenues of 1.23 billion from the concession...
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