Signifcant underspend covers revenue shortfall for budget primary surplus to August

EconomyMacroeconomy Tags: Budget, MoF, Revenues, Taxes

Greece’s budget primary surplus significantly improved to 3.8 billion in the 8-month period of 2015 from 1.95 billion last year, the Finance Ministry (MoF) final budget data displayed on Thursday. Today’s figures confirm preliminary the preliminary data released on September 16.

Compared to target, the actual figure indicates an outperformance of 535 million so far this year. This is attributed to lower primary expenditure (by 2.8 billion), military procurement (by 361 million) and tax refunds (by 250 million) as well as higher...

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