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Thursday, May 26, 2022
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Greek state budget records lower primary deficit in Jan-Nov

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Hellenic News of Americahttps://www.hellenicnews.com
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Greek state budget recorded a primary deficit of 7.882 billion euros in the January-November period, down from a budget target for a shortfall of 8.973 billion and a deficit of 13.747 billion euros in the same period last year, the Finance Ministry said on Monday.

The state budget recorded a deficit of 12.267 billion euros in an amended cash basis, in the 11-month period, down from a budget target for a deficit of 13.399 billion and a shortfall of 18.252 billion in the corresponding period last year.

Net revenue amounted to 48.476 billion euros, up 0.7% from targets, while regular budget revenue rose 0.8% from targets to 52.746 billion.

Tax revenue was 42.932 billion euros, up 1.9% from targets. Specifically, tax evenue exceeded targets in the following categories: VAT on oil products (2.1%), VAT on other products and services (1.1%), special consumption tax on energy products (1.5%), special consumption tax on other products (2%), taxes on financial and capital transactions (3.1%), other taxes on services (3%), taxes on imports (8.7%), regular taxes on property (3.9%), income tax (3.3%), corporate income tax (4.1%) and taxes on sales of goods and services (4.4%). On the other hand, tax revenue fell short from targets in the following categories: special consumption tax on tobacco (0.9%), other income taxes (1.5%), transfers (5%), spending return (1.5%).

Tax returns totaled 4.270 billion euros, up 82 million from targets. Public Investment Programme revenue was 3.768 billion euros, down 419 million from targets.

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Budget spending amounted to 60.743 billion euros in the January-November period, down 1.3% from targets, but up by 365 million euros compared with the same period in 2020, reflecting higher defense spending.

Regular budget spending fell short of targets by 1.2%, while Public Investment Program spending was down 1.8% in the same period.

In November, budget revenue was 4.320 billion euros, up 158 million from monthly targets, while regular budget revenue was 4.778 billion, up 240 million from targets. Tax revenue was 4.351 billion euros, up 16.6% from monthly targets. Tax returns totaled 458 million euros, up 82 million from targets, while Public Investment Program revenue was 187 million euros, down 419 million from targets.

SOURCE: AMNA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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