Q1 gg primary cash balance shows 2.5 bln surplus but 2014 arrears grow

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Q1 gg primary cash balance shows 2.5 bln surplus but 2014 arrears grow

EconomyMacroeconomy 07/05/2014 - 16:32 Tags: Arrears, Budget, MoF, Revenues, Taxes

The Greek general government (gg) primary cash surplus in the first quarter (Q1) of 2014 more than tripled to 2.5 billion from 770 million in the corresponding period last year, according the gg bulletin released by the Ministry of Finance on Tuesday.

The overall gg cash balance also showed a surplus of 529 million in Q1 from a deficit of 1.1 billion last year. Nevertheless, the year to date balance implies a deficit of 1.4 billion in March compared to a surplus of 1.93 billion recorded in the 2-mont...

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