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Budget continues to perform strongly in July as VAT beats target by over 1 bln
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Energy propels rise of 19.6% YoY in June industrial turnover
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Current account deficit improves in June, rises to 9.54 bln in first half of year
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Central govt debt rises to 402.64 bln in Q2 on back of repos and bonds increases
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Greece extends debt prepayment strategy with first repayment of EFSF loans
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Primary balance at 5.73 bln up to July as RRF-related spending revs up
Signifcant underspend covers revenue shortfall for budget primary surplus to August
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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