General gov't primary cash surplus markedly better in July but arrears climb

EconomyMacroeconomy Tags: Arrears, Budget, MoF, Revenues, Taxes

The general government (gg) primary cash surplus narrowed by 18 percent to 2.35 billion euros in the 7-month period of 2015 from 2.87 billion last year, according the gg bulletin published by the Ministry of Finance (MoF) on Monday.

However, on a monthly basis the cash surplus substantially improved to 2.26 billion euros in July, which is more than double year on year (YoY). This was mainly driven by the high surpluses posted in the state budget (1.75 billion) and social security f...

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