Budget Execution Bulletins

Financing - Payment of Arrears monthly bulletin - June 2014



State Budget Execution for the 7 – months January-July of 2014

  According to the preliminary data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the 7 months of 2014 presented a deficit of 1.734 million Euros against the revised target for deficit of 3.360 million Euros and the deficit of 1.929 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 2.282 million Euros, against the target for primary surplus of 800 million Euros and the primary surplus of 2.555 million Euros performed at the same period of the previous year.

 State Budget net revenues amounted to 29.533 million Euros, showing an over performance of 653 million Euros or 2.3 % against the revised monthly target of MTFS 2015-2018.

 Ordinary Budget net revenues amounted to 26.248 million Euros, 459 million Euros or 1.8% higher than the revised target.

 State Budget Tax Revenues amounted to 24.705 million Euros, higher by 562 million Euros or 2.3 % against the revised target.

 Tax refunds amounted to 2.002 million Euros, increased against the target (1.740 million Euros) by 262 million Euros.

 PIB revenues amounted to 3.285 million Euros increased against the target by 195 million Euros.

 State Budget expenditures amounted to 31.266 million Euros, 973 million Euros lower than the revised target (32.240 million Euros).

 Specifically, ordinary budget expenditures amounted to 28.302 million Euros and were decreased by 1.220 million Euros against the revised target, mainly due to the reduction of primary expenditure by 880 million Euros against the revised target (24.528 million Euros).

 Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2.295 million Euros or by 7.5%. This decrease is mainly due to the reduction of primary expenditure by 1.468 million Euros or 5.8% comparing to the same period of 2013 despite the fact that expenditures increased by 483 million Euros for social dividend, 36 million Euros for heating allowance, 66 million Euros for allowances to families with many children and 64 million Euros for electoral expenditure.

 Public Investment Budget (PIB) expenditure amounted to 2.965 million Euros and increased by 247 million Euros comparing to the target (2.718 million Euros) and by 845 million Euros comparing to the same period last year.

 



State Budget Execution for the 6 – months January-June of 2014

 According to the final data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the 6 months of 2014 presented a deficit of 2,419 million Euros against the revised target for deficit of 3,856 million Euros and the deficit of 4,991 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 707 million Euros, against the target for primary deficit of 635 million Euros and the primary deficit of 1,511 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 23,615 million Euros, showing an over performance of 241 million Euros or 1.0 % against the revised monthly target of MTFS 2015-2018.

Ordinary Budget net revenues amounted to 20,646 million Euros, 65 million Euros or 0.3% higher than the revised target.

State Budget Tax Revenues amounted to 19,021 million Euros, higher by 98 million Euros or 0.5 % against the revised target.

Ιn particular, revenue categories that exceeded the revised target of January – June 2014 period are the following:

   1. The Personal Income Tax (P.I.T.) by 143 million Euros or 5.1%.

   2. The Corporate Income Tax (C.I.T) by 170 million Euros or 18.9%.

   3. The Property Taxes by 158 million Euros or 13.6%,

   4. The Other Direct Taxes by 58 million Euros or 5.6%,

   5. The Other Transaction Taxes by 26 million Euros or 10.4%,

   6. The Other Non-Tax Revenue by 166 million Euros or 9.2%.

On the contrary, revenue categories that underperformed comparing to the revised target are the following:

  1. The Other Income Tax by 32 million Euros or 3.7%,
  2. The Direct Tax Arrears by 47 million Euros or 3.4%,
  3. The VAT on fuel by 129 million Euros or 12.8% and the excise tax on fuel by 230 million Euros or 11.7 %.
  4. The Other Excise Taxes by 45 million Euros or 3.6%,
  5. The Liquidity Support Plan Proceeds by 85 million Euros or 44.6%.

Tax refunds amounted to 1,558 million Euros, increased against the target (1,462 million Euros) by 96 million Euros.

PIB revenues amounted to 2,969 million Euros increased against the target by 176 million Euros.

State Budget expenditures amounted to 26,034 million Euros, 1,195 million Euros lower than the revised target (27.230 million Euros).

Specifically, ordinary budget expenditures amounted to 23,672 million Euros and were decreased by 1,240 million Euros against the revised target, mainly due to the reduction of primary expenditure by 943 million Euros against the revised target (21,000 million Euros).

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2,120 million Euros or by 8.2%. This decrease is mainly due to the reduction of primary expenditure by 1,350 million Euros or 6.3% comparing to the same period of 2013 despite the fact that expenditures increased by 247 million Euros for social dividend, 31 million Euros for heating allowance, 16 million Euros for allowances to families with many children, 54 million Euros for grants to hospitals and 51 million Euros for electoral expenditure.

Public Investment Budget (PIB) expenditure amounted to 2,362 million Euros and increased by 44 million Euros comparing to the target (2,318 million Euros) and by 590 million Euros comparing to the same period last year.



State Budget Execution for the 6 – months January-June of 2014

According to the preliminary data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the 6 months of 2014 presented a deficit of 2,415 million Euros against the revised target for deficit of 3,856 million Euros and the deficit of 4,991 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 712 million Euros, against the target for primary deficit of 635 million Euros and the primary deficit of 1,511 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 23,620 million Euros, showing an over performance of 246 million Euros or 1.1 % against the revised monthly target of MTFS 2015-2018.

Ordinary Budget net revenues amounted to 20,651 million Euros, 70 million Euros or 0.3% higher than the revised target.

State Budget Tax Revenues amounted to 19,135 million Euros, higher by 211 million Euros or 1.1 % against the revised target.

Tax refunds amounted to 1,558 million Euros, increased against the target (1,462 million Euros) by 96 million Euros.

PIB revenues amounted to 2,969 million Euros increased against the target by 176 million Euros.

State Budget expenditures amounted to 26,034 million Euros, 1,195 million Euros lower than the revised target (27.230 million Euros).

Specifically, ordinary budget expenditures amounted to 23,672 million Euros and were decreased by 1,240 million Euros against the revised target, mainly due to the reduction of primary expenditure by 943 million Euros against the revised target (21,000 million Euros).

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2,120 million Euros or by 8.2%. This decrease is mainly due to the reduction of primary expenditure by 1,350 million Euros or 6.3% comparing to the same period of 2013 despite the fact that expenditures increased by 247 million Euros for social dividend, 31 million Euros for heating allowance, 16 million Euros for allowances to families with many children, 54 million Euros for grants to hospitals and 51 million Euros for electoral expenditure.

Public Investment Budget (PIB) expenditure amounted to 2,362 million Euros and increased by 44 million Euros comparing to the target (2,318 million Euros) and by 590 million Euros comparing to the same period last year.



Financing - Payment of Arrears monthly bulletin May 2014