The Greek central government’s revenues were mostly on target during the first five months of 2017, with the benchmark now being the Medium-Term Fiscal Strategy – after its ratification – rather than the 2017 budget.
The Greek central government’s revenues were mostly on target during the first five months of 2017, with the benchmark now being the Medium-Term Fiscal Strategy – after its ratification – rather than the 2017 budget.
The primary budget surplus figure exceeded the target in the medium-term strategy by nearly 800 million euros, primarily due to a tightening on spending. The surplus reached 1.842 billion euros in the first five-month period of 2017, up from a revised target of 1.05 billion.
Conversely, the net tax revenue target fell short by three million euros in an overall figure of 17.92 billion euros; 793 million euros was the shortfall in terms of spending - 19.17 billion euros as opposed to a target of 19.96 billion euros.
The revised mid-term surplus goal for 2017 is 1.9 percent of GDP for 2017.
The surplus does not calculate the fiscal performances and budgets of pension funds and local governments.