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Building activity down 15.2 pct in Feb for sharpest drop since 2020
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VAT and income taxes drive revenue and budget outperformance in April
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EC reports highlight tight fiscal path and economic challenges
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Travel surplus continues to grow in March, up 55 pct YoY in Q1
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Current account deficit widens to 2.4 bln in Mar, oil deficit more than doubles
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Industrial turnover posts slowest growth in 2 years, up 1.5 pct in March
General government bottom line continues to improve with moderate decrease in arrears
The Greek general government (gg) cash deficit to August fell by 60.7 percent to 3.87 billion with the gg cash primary surplus rising by 12.7 percent to 1.78 billion, according to the Ministry of Finance (MoF). The released data incorporates SMP income of 1.5 billion recorded in the July budget execution. Furthermore, state arrears to the private sector retreated 2.0 percent month on month (mom) and 25.8 percent (2.29 billion) since the beginning of the year. Arrears came to 6.57 billion at the end of August.
The state budget is the key element in the reported gg evolution. There is an important difference compared to the released budget execution for the same period, which relates to a cash correction of 4.3 billion mainly stemming from settlement of arrear...
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