Greek state budget primary surplus amounted to 4.647 billion euros in the January-November period this year, from a budget target for a surplus of 3.074 billion euros, but down from a primary surplus of 5.757 billion euros in the corresponding period in 2016.
More specifically, based on state budget execution data, on an amended cash basis, the state budget showed a deficit of 774 million euros in the 11-month period, from a surplus of 353 million in the same period last year and a budget target for a deficit of 2.347 billion.
Net budget revenue totaled 45.130 billion euros in the January-November period, down 0.3 pct from targets, while regular budget net revenue amounted to 43.748 billion euros, up 1.2 pct from targets.
Budget revenue surpassed targets in the categories of: corporate income tax (up 1.0 pct), special categories income tax (up 1.1 pct), property taxes (up 1.4 pct), direct taxes (up 1.9 pct), VAT on oil products (up 1.6 pct), VAT on other products (up 0.4 pct), other transaction taxes (up 2.3 pct), special consumption tax on energy products (up 0.7 pct), car registration duties (up 13.6 pct), other consumption taxes (up 11.8 pct), indirect taxes (up 5.0 pct), other non-tax revenue (up 1.5 pct).
During the 11-month period, budget revenue fell short in tobacco special consumption tax (-0.9 pct).
Tax returns totaled 4.842 billion euros, down 48 million from budget targets. Public Investment Programme’s revenue was 1.382 billion euros, down 664 million from targets.
State budget spending totaled 45.905 billion euros in the January-November period, down 1.731 billion from targets. Regular budget spending was 42.847 billion euros in the 11-month period, down 913 million from targets and down 1.375 billion compared with the same period last year. Public Investment Programme’s spending was 3.058 billion euros, down 818 million from targets.
In November, state budget net revenue was 4.558 billion euros, down 483 million from monthly targets, while regular budget net revenue was 4.505 billion, up 181 million from monthly targets.
Corporate income tax revenue surpassed targets by 17 million euros, direct tax revenues were up by 19 million, VAT on oil products exceeded targets by 14 million, special consumption tax on energy products was up 24 million euros, car registration duties surpassed targets by 19 million euros. On the other hand, revenue fell short of targets in income tax, insurance tax and other special consumption taxes (tobacco, etc).
Tax returns totaled 349 million euros in November, down 49 million from monthly targets. Public Investment Programme revenue was 53 million euros in the month, down 665 million from targets.
State budget spending was 5.477 billion euros in November, up 522 million from monthly targets, while regular budget spending was 4.397 billion euros, up 252 million from targets. Public Investment Programme spending amounted to 1.079 billion euros in the month, up 269 million from targets.