Budget primary surplus of 2.1 bln in 2-month on large underspend in Feb

EconomyMacroeconomy Tags: Budget, MoF, Revenues, Taxes
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

The budget primary balance posted a surplus of 2.12 billion euros in the 2-month period of 2017, 25.6 percent lower than the respective figure of 2.85 billion in the corresponding period last year, the Finance Ministry’s (MoF) preliminary budget execution bulletin revealed on Tuesday.

This year’s primary surplus beat the target by 1.26 billion. This largely reflects primary expenditure coming in 866 million below the target, coupled with a gross revenue (revenues before tax refunds) outperformance of 517 million.

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