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State Budget Execution for January - December of 2016 (preliminary data)

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 - December of 2016 presented a deficit of 1,185 million Euros, against the target of 2016 Budget (that has been incorporated in the 2017 Budget introductory report) of deficit of 3,617 million Euros and the deficit of 3,530 million Euros for the same period of 2015. The State Budget Primary Balance amounted to a surplus of 4,392 million Euros, against the primary surplus target of 1,983 million Euros and the primary surplus of 2,270 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 53,968 million Euros, showing an overperformance of 1,616 million Euros or 3.1% against the target. 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 49,796 million Euros, 1.819 million Euros or 3.8%, higher than the target of 2017 Budget.Tax refunds (excluding those from the arrears clearance programme) amounted to 3,265 million Euros, decreased against the target (3,287 million Euros) by 22 million Euros.PIB revenues amounted to 4,172 million Euros decreased by 204 million Euros against the target.Particularly, in December 2016 the State Budget net revenues amounted to 6,026 million Euros, 114 million Euros higher than the monthly target.

Ordinary Budget net revenues amounted to 5,144 million Euros, 372 million Euros higher than the monthly target.PIB revenues amounted to 883 million Euros decreased by 258 million Euros against the target.Tax refunds in December 2016 (excluding those from the arrears clearance programme) amounted to 584 million Euros, increased against the monthly target (405 million Euros) by 180 million Euros.

State Budget expenditures for the period of January - December of 2016 amounted to 55,153 million Euros, 817 million Euros lower than the target (55,970 million Euros).Specifically, ordinary Budget expenditures amounted to 48,865 million Euros and were decreased by 354 million Euros against the target, mainly due to the reduction of primary expenditure by 246 million Euros.Ordinary Budget expenditures were increased compared to the respective period of 2015 by 320 million Euros. Expenditures increased by 630 million Euros for grant to EFKA for one-off support to low income pensioners, 143 million Euros for allowance for tackling humanitarian crisis, 39 million Euros for allowances to families with many children, 81 million Euros for migration flows and 18 million Euros for military procurement of the Ministry of Defense.PIB expenditure amounted to 6,288 million Euros, lower by 462 million Euros than the target.

For December in particular, State Budget expenditures amounted to 9,234 million Euros, 1,556 million Euros more than the monthly target, while Ordinary Budget expenditures amounted to 6,423 million Euros, showing an over performance of 935 million Euros against the monthly target. Public Investment Budget (PIB) expenditure amounted to 2.811 million Euros showing an over performance of 621 million Euros against the monthly target.

 

State Budget Execution for December of 2016