State Budget Execution for January - June of 2017
According to the preliminary data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the period of January - June of 2017 presented a deficit of 1,597 million Euros, against the target of MTFS 2018-2021 for the same period of 2017 of deficit of 3,092 million Euros and the deficit of 1.852 million Euros for the same period of 2016. The State Budget Primary Balance amounted to a surplus of 1,936 million Euros, against the primary surplus target of 431 million Euros and the primary surplus of 1,632 million Euros performed at the same period of the previous year.
State Budget net revenues amounted to 22,174 million Euros, showing an overperformance of 52 million Euros or 0.2% against the target of MTFS 2018-2021.
A more precise allocation among the revenue categories of the Ordinary Budget will take place when the final Bulletin is issued.
Ordinary Budget net revenues amounted to 21,338 million Euros, 73 million Euros or 0.3% higher than the target of MTFS 2018-2021.
Tax refunds (excluding those from the arrears clearance programme) amounted to 1.845 million Euros, increased against the target (1.709 million Euros) by 136 million Euros.
PIB revenues amounted to 836 million Euros decreased by 22 million Euros against the target.
Particularly, in June 2017 the State Budget net revenues amounted to 3,493 million Euros, 53 million Euros higher than the monthly target of MTFS 2018-2021.
Ordinary Budget net revenues amounted to 3,423 million Euros, 79 million Euros higher than the monthly target.
PIB revenues amounted to 69 million Euros decreased by 26 million Euros against the target.
Tax refunds in June 2017 (excluding those from the arrears clearance programme) amounted to 272 million Euros, increased against the monthly target (243 million Euros) by 29 million Euros.
State Budget expenditures for the period of January - June of 2017 amounted to 23,771 million Euros, 1,443 million Euros lower than the target (25,214 million Euros).
Specifically, ordinary Budget expenditures amounted to 22,863 million Euros and were decreased by 1.149 million Euros against the target. Decrease against the target were mainly grants to hospitals, YPE-PEDY by 265 million Euros, Social Solidarity Income by 72 million Euros, allowances to families with many children by 55 million Euros and earmarked revenues by 299 million Euros.
Ordinary Budget expenditures were decreased compared to the respective period of 2016 by 757 million Euros. Expenditures increased by 178 million Euros for Social Solidarity Income, by 82 million Euros for payments to EU, by 44 million Euros for migration flows and by 87 million Euros for military equipment procurement.
PIB expenditure amounted to 908 million Euros, showing an underperformance against the target by 294 million Euros.
For June in particular, State Budget expenditures amounted to 3,847 million Euros, 428 million Euros less than the monthly target, while Ordinary Budget expenditures amounted to 3,694 million Euros, showing an under performance of 361 million Euros against the monthly target. Public Investment Budget (PIB) expenditure amounted to 153 million Euros showing an underperformance against the monthly target by 67 million Euros.