Budget execution starts 2017 with primary balance outperformance on target-beating revenues

EconomyMacroeconomy Tags: Budget, MoF, Revenues, Taxes
Photo by Angelos Christofilopoulos/Fosphotos
Photo by Angelos Christofilopoulos/Fosphotos

The budget primary balance recorded a surplus of 1.02 billion euros in the first month of 2017, broadly similar to that posted a year ago, the Finance Ministry (MoF) preliminary budget execution bulletin revealed on Tuesday.

This year’s primary surplus outperformed the target by 342 million, largely reflecting higher than expected revenues (by 340 million), while primary expenditure and Public Investment Budget (PIB) balance came in 58 and 41 million lower than target.

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