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VAT and underspend drive budget outperformance in first six months
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Tourism shows resilience despite geopolitical uncertainty as May arrivals and revenues rise
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Record travel receipts and narrower trade deficit reflected in current account up to May
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Energy and domestic market drive industrial turnover growth of 14.1% YoY in May
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Primary surplus up to June at 4.48 bln as taxes continue to outperform, spending contained
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Energy continues to drive import prices as May sees 13.3% YoY rise
Budget primary balance beats target by 4.64 bln in July on back of impressive tax performance
The budget primary balance up to July 2022 came to a deficit of 1.17 billion euros, compared to a deficit of 9.06 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday.
The primary balance beat the target by 4.64 billion euros against an anticipated deficit of 5.81 billion euros at this point of the year. Expenditure, excluding interest payments and the public investment budget, came to 30.49 billion euros. Net revenue...
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