Home Banking Greece: January 2016 State Budget Execution, & January 2016 arrears and public debt

Greece: January 2016 State Budget Execution, & January 2016 arrears and public debt

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WP_20150824_055Global Economic & Market Outlook – Focus Notes (Friday, April 1, 2016)

Greece: January 2016 State Budget Execution, & January 2016 arrears and public debt

According to the final State Budget Execution data for January – February 2016, the budget balance recorded a deficit of ca €1.32 bn, improved relative to the respective 2016 Budget (B16) target (deficit €0.0.62 bn). The primary balance recorded a surplus of ca €3.04 bn, significantly outperforming the B16 target (primary surplus of ca €1.07bn).

In more detail, ordinary net revenue for January – February 2016 amounted to ca €8.10 bn, higher by ca €0.32 bn (or 4.1%) compared with the respective B16 target and by ca €0.81 bn (or 11.1%) on an annual basis.

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GLOBAL FOCUS NOTE_APRIL 1 BUDGET EXECUTION FINAL

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