Greek primary surplus at 400 mln to Oct but arrears keep piling up

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Greek primary surplus at 400 mln to Oct but arrears keep piling up

EconomyMacroeconomy 04/12/2013 - 11:15 Tags: Arrears, Budget, MoF, Revenues, Taxes

The Greek general government (gg) cash deficit to October fell by 50.8 percent to 4.41 billion with the gg cash primary surplus landing at 1.38 billion from 2.53 billion last year, the Ministry of Finance (MoF) said on Tuesday.

Similar to previous months, the reported gg data is on a cash basis taking into account payment of previous years’ state arrears of 4.35 billion, which distorts the gg fiscal balance for this year. Furthermore, it includes SMP and ANFA income of 2.18 bi...

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