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State Budget Execution for January of 2017

According to the data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the period of January of 2017 presented a surplus of 839 million Euros, against the target of 2017 Budget (that has been incorporated in the Budget introductory report) of surplus of 530 million Euros and the surplus of 888 million Euros for the same period of 2016. The State Budget Primary Balance amounted to a surplus of 1,019 million Euros, against the primary surplus target of 670 million Euros and the primary surplus of 1,003 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 4,164 million Euros, showing an overperformance of 172 million Euros or 4.3% against the Budget 2017 target.

Ordinary Budget net revenues amounted to 4,047 million Euros, 331 million Euros or 8.9%, higher than the target of Budget 2017. 

Particularly, during January 2017 there was an increase against the target in the following main revenue categories:
a) Corporate Income Tax (CIT) by 20 million Euros or 357.2%,
b) Direct Tax Arrears by 120 million Euros or 53.8%,
c) Other Direct Taxes by 14 million Euros or 15.2%,
d) VAT Fuel by 15 million Euros or 9.6%,
e) VAT Tobacco by 19 million Euros or 38.9%,
f) Other Excise Taxes (Tobacco, etc) by 32 million Euros or 13.4%,
g) Road duties by 28 million Euros or 61.2%,
h) Indirect Tax Arrears by 106 million Euros or 74.1%,
i) Other Non-Tax Revenue by 69 million Euros or 25.2%,
j) NATO income by 33 million Euros
During the same period there was an underperformance against the target in the following main revenue categories:
a) Personal Income Tax (PIT) by 7 million Euros or 1.8%,
b) VAT Other by 88 million Euros or 6.8%,
c) Excise Tax on Fuel by 17 million Euros or 4.3%,
d) Drawings From E.U. by 14 million Euros or 10.8%.

Tax refunds (excluding those from the arrears clearance programme) amounted to 314 million Euros, increased against the target (296 million Euros) by 18 million Euros. 

Public Investment Budget (PIB) revenues amounted to 117 million Euros decreased by 159 million Euros against the target.

State Budget expenditures for the period of January of 2017 amounted to 3,326 million Euros, 137 million Euros lower than the target (3,462 million Euros).

Specifically, ordinary Budget expenditures amounted to 3,299 million Euros and were decreased by 19 million Euros against the target.

Ordinary Budget expenditures were increased compared to the respective period of 2016 by 107 million Euros. Expenditures increased by 175 million Euros for payments to EU.

PIB expenditure amounted to 27 million Euros, lower by 118 million Euros than the target.

 

State Budget Execution for January of 2017

Time Series