The finance ministry on Monday said tax revenues for the first nine-month period of the year reached 34.7 billion euros, missing the target by 2.29 billion. At the same time, spending reached 34.58 billion euros, below a forecast of 36.17 billion euros.
The finance ministry on Monday said tax revenues for the first nine-month period of the year reached 34.7 billion euros, missing the target by 2.29 billion. At the same time, spending reached 34.58 billion euros, below a forecast of 36.17 billion euros.
The comparison that resulted in the 2.29-billion euro deviation is based on data from the Medium Term Fiscal Strategy (MTFS), and not the figures in the draft budget for 2017, which was tabled in late 2016, given that the latter has been revised.
The ministry said the shortfall in revenues is due to increased tax rebates in September and a bumped back - by a month - first installment of the now permanent annual property tax (ENFIA).
Nevertheless, the government attained a primary budget surplus of 4.5 billion euros on the back of reduced spending.
The primary budget surplus reached 4.502 billion euros, up from 3.806 billion euros for the corresponding period of 2016 and slightly less than the target of 4.556 billion euros for the Jan-Sep 2017 period.