Mixed picture for deposits continues in Aug with rise of just 190 mln
Credit net flows remain negative in Aug, growth at just 0.9 pct YoY
Budget overperformance in Aug fuelled by VAT and income tax, spending significantly contained
Travel balance to July soars by 19 pct, reaching almost 9 bln
Agriculture output prices jump 28.7 pct YoY in Jul, despite input costs falling
Industrial turnover drops by 10.2 pct in Jul, driven by foreign markets and manufacturing
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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