Greek state budget primary surplus at last year’s levels, State Budget Office report

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Greek state budget primary surplus is almost at last year’s levels (showing a slight decline of 79 million euros) in the first quarter of 2019 and was expected to be reversed in April, the State Budget Office in Parliament said in a report released on Monday.

• More specifically, the report said that the state cash budget’s primary surplus was 436 million euros less compared with the previous year, with tax revenue down 518 million and Public Investment Program revenue down 178 million euros in the January-March period. State budget spending rose 1.094 billion euros compared with the corresponding period last year, reflecting higher primary spending, interest spending and public investment program spending.

The report said that legal entities reported higher revenue, while local authorities reported lower revenue and social insurance organizations reported lower revenue in the first three months of 2019. Finally, general government arrears rose by 176 million euros in the first quarter 2019.

Source: ANA-MPA

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