Greek Jan-June govt budget surplus beats target

Elstat - eKathimerini

Reuters – Greece’s central government attained a primary budget surplus of 1.93 billion euros in the first half of the year, beating its target by 1.5 billion euros thanks to lower spending, finance ministry data showed on Friday.

The government’s target was for a primary budget surplus – which excludes debt-servicing costs – of 431 million euros for the first six months of the year.

Net tax revenue came in at 21.3 billion euros, 73 million euros above target, while spending reached 22.9 billion euros, below a target of 24 billion euros.

The government overshot its bailout target last year after achieving a general government primary budget surplus of 4.2 percent of GDP.

The EU commission said last Wednesday that Greece’s fiscal position has improved and the European Union should end disciplinary procedures against it over its excessive deficit, paving the way for the country to return to international bond markets.