Net budget revenues significantly surpassed targets to total 4.232 billion euros in March, from a target of 3.16 billion, Greek Deputy Finance Minister Dimitris Mardas said. Speaking to reporters, Mardas pledged that the government will continue paying wages and pensions, and expressed his optimism that an agreement will be reached between the country and its creditors. Responding to a question, Mardas did not exclude an obligatory transfer of cash reserves held by the wider public sector to the Bank of Greece (BoG) and recalled the examples of the Netherlands, the UK and Portugal where a similar status quo exists. Mardas said budget spending totaled 4.539 billion euros in March, down from a budget target of 5.212 billion euros, with state budget deficit shrinking to 306 million euros, from a budget target of 2.041 billion euros. The Greek Deputy Minister said a working group has been set up in the Ministry to focus on public overspending and noted that a new legislation – soon to be presented – will focus on cutting travel expenses in the public sector. Mardas said travel expenses totaled 177 million euros annually. He added that a commission will work on setting revenue targets from combating fuel, alcohol smuggling and illegal gaming, while the government will present a medium-term program envisaging a primary surplus of 1.5% of GDP this year. (source: ana-mpa)
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