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2019 Greek Budget Records Primary Surplus of Almost €5 Billion

The Greek state budget recorded a primary surplus of 4.96 billion euros in 2019, up from a budget surplus target of 4.4 billion and a primary surplus of 91 million euros in the same period in 2018, the Finance Ministry said in a report on Wednesday.

The report, based on provisional budget execution data on an amended cash basis, showed that the state budget recorded a deficit of 225 million euros in the January-December 2019 period, from a budget target for a shortfall of 839 million and a deficit of 4.58 billion in the same period in 2018.

Net revenue for the Greek state was 55.019 billion euros, down 7.0 million from budget targets, with regular budget revenue totaling 60.065 billion euros, up 7.0 million from targets.

Income from Greek tax returns reached 5.046 billion euros, up by 14 million from the official targets.

Additionally, the Public Investment Program revenue totaled 2.772 billion euros, down 777 million from targets.

According to the Ministry’s data, the state budget spending amounted to 55,244 billion euros in 2019, down 620 million euros from targets and down 1,128 billion compared with 2018.

In December, the budget revenue was 6.59 billion euros, down 387 million from monthly targets, while regular budget revenue was 7.365 billion euros, down 339 million from targets.

In December, state budget spending was 8.736 billion euros, up 1.264 billion from monthly targets.

Theodoros Skylakakis, Deputy Finance Minister responsible for Fiscal Policy, commenting on the budget execution figures, noted that “The provisional budget execution figures for 2019 showed that budget targets for the primary surplus have been achieved.”

With information from AMNA

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