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Greece: January-July 2016 State Budget Execution, & arrears

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WP_20150824_055Global Economic & Market Outlook – Focus Notes (Wednesday, September 7 2016)

Greece: January-July 2016 State Budget Execution, & arrears

According to the final State Budget Execution data for January – July 2016, the budget balance recorded a deficit of ca E0.83 bn, improved by E2.65 bn relatively to the respective 2016 Budget (B16) target (deficit E3.49 bn). The primary balance recorded a surplus of ca E3.55 bn, again significantly outperforming the B16 target (primary deficit) of ca E0.87 bn).

In more detail, ordinary budget net revenue for January – July 2016 (Fig.1) amounted to ca E25.95 bn, higher by ca E0.40 bn (or 1.6%) and E1.11bn (or 4.5%) compared with the respective b16 target and the corresponding 2015 figure, respectively.

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