Collapse in revenues brings 2014 primary surplus to 1.9 bln, 3 bln short of target

Photo by MacroPolis
Photo by MacroPolis

Greece’s budget execution displayed the primary surplus significantly narrowing by 1.64 billion month on month (MoM) to 1.93 billion at the end of 2014 from 3.57 billion in the 11-month period, according to the Finance Ministry (MoF) preliminary budget bulletin published today.

More importantly, the year to date primary surplus outperformance of 691 million by the end of November turned to an underperformance of 3.01 billion for the whole year.

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