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Greece’s Finance Ministry issued a report on Tuesday on provisional budget execution data, which indicated a State Budget primary surplus of 918 million euros in the January-May period.

The January–May surplus of 918 million euros is up from a primary surplus of 853 million in the same period last year and a budget target for a deficit of 1.447 billion euros, the Finance Ministry said in a report on Tuesday.

According to the report, the State Budget also recorded a deficit of 1.758 billion euros in the five-month period, down from a budget target for a shortfall of 4.050 billion.

More specifically, net revenue was 20.187 billion euros, up 14.4% from targets, reflecting collection of a sum of 1.121 billion euros from extending a concession contract of the Athens International Airport and collection of a sum of 644 million euros from ANFAs. Regular budget revenue was 21.935 billion euros, up 14.1% from targets. Tax returns amounted to 1.747 billion euros, up 157 million from targets, while Public Investment Programme revenue was 997 million euros, up 67 million from targets.

State budget spending totalled 21.945 billion euros in the January-May period, up 255 million euros from targets reflecting extraordinary payment of 971 million euros to pensioners. Public Investment Programme spending amounted to 1.165 billion euros, down 140 million from targets.

In May, budget revenue was 4.231 billion euros, up 1.241 billion from monthly targets, while regular budget revenue was 4.787 billion euros, up 1.299 billion from targets. Public Investment Programme revenue was 105 million euros in the month, up 31 million from targets. Tax returns totalled 556 million euros, up 59 million from targets. Budget spending amounted to 4.948 billion euros in May, up 1.024 billion from monthly targets.


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