The Greek government on Tuesday reported a primary surplus of 2.654 billion euros in its state budget in the January-October period this year. In a report on final budget execution data on a revised cash basis for the January-October period, the Finance Ministry reported a state budget deficit of 2.448 billion euros, from 2.958 billion euros in the corresponding period last year and a 2015 target of 1.567 billion euros. The primary surplus totaled 2.654 billion euros, up from 2.590 billion euros last year and a 2015 target of 3.539 billion euros. Net budget revenue totaled 41.319 billion euros, down 3.0% from a 2015 budget target. Regular budget net revenue was 37.807 billion euros in the January-October period, down 1.7% from target. Tax revenue was down 1.5% from target to 35.702 billion euros, reflecting a 1.4 shortfall in income tax, a 2.5% decline in other direct taxes, a 4.6% fall in VAT on oil products, a 4.5% fall in a special consumption tax on oil and a 1.0% decline in other VAT revenue. Tax returns totaled 2.844 billion euros in the 10-month period, up by 87 million euros from budget target. Greece’s Public Investment Program revenue totaled 3.513 billion euros, down 612 million from budget target. State budget spending totaled 43,768 billion euros, down 397 million euros from budget target, while regular budget spending was down by 372 million euros from budget target to 39.650 billion euros and by 6.9% compared to the same period last year. Public Investment Program spending totaled 4.118 billion euros in the January-October period, down 25 million euros from budget target but up 793 million compared to the same period last year. (source: ana-mpa)
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