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Greek Jan-Aug govt budget surplus slightly below target on lower tax revenues
September 14, 2017 / 3:15 PM / 10 days ago

Greek Jan-Aug govt budget surplus slightly below target on lower tax revenues

ATHENS, Sept 14 (Reuters) - Greece’s central government attained a primary budget surplus of 3.55 billion euros ($4.22 billion) in the first eight months of the year, slightly below target due to lower tax revenues, finance ministry data showed on Thursday.

The government’s target was for a primary budget surplus - which excludes debt-servicing costs - of 3.57 billion euros for the first eight months of the year.

The central government surplus excludes the budgets of social security organizations and local administration. It is different from the figure monitored by Greece’s EU/IMF lenders but indicates the state of the country’s finances.

Net tax revenue came in at 30.2 billion euros, 1.8 billion euros below target, while spending reached 31.12 billion euros, below a target of 32.3 billion euros.

The government is aiming for a general government primary budget surplus of 1.9 percent of GDP this year, based on its medium term fiscal strategy plan. The bailout target is for a primary surplus of 1.75 percent of GDP. (Reporting by Lefteris Papadimas)

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