Global Economic & Market Outlook – Focus Notes (Tuesday, August 8 2017)
Greece: January – June 2017 State Budget Execution & June 2017 General Government Arrears
- According to the final State Budget Execution data for January – June 2017, the budget balance recorded a deficit of ca €1.60 bn, ca €1.50 bn narrower relatively to the respective medium Term 2018-21 (MTFS) target (deficit €3.09 bn). The primary balance recorded a surplus of ca €1.94 bn, outperforming the MTFS target by €0.43 bn (primary surplus €1.51 bn). Ordinary Budget net revenue, direct and indirect taxes over performed their MTFS targets by €0.07 bn, €0.13 bn and €0.32 bn respectively. However, ordinary expenditure were at €19.33 bn undershooting the respective MTFS target by €1.15 bn.
- In more detail, ordinary budget net revenue for January – June 2017 (Fig.1) amounted to ca €21.34 bn, higher compared to the respective MTFS target(€0.07 bn or 0.3%) and the corresponding 2016 figure (€0.30 bn or 1.4%).
Viewers can log herebelow and read the full report: EUB GLOBAL FOCUS NOTE #GR BUDGET EXECUTION 08 08 2017