Budget Execution Bulletins

Monitoring of the achievement of the General Government legal entities’ targets with budget above 20 million euros for the 3-months of 2014



State Budget Execution for the 4 months January-April of 2014

According to the data available for the execution of the State Budget on a modified cash basis, the State Budget balance for the 4 months of 2014 presented a deficit of 1,146 million Euros against the target for deficit of 1,459 million Euros and the deficit of 2,426 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 1,046 million Euros, against the target for primary surplus of 742 million Euros and the primary deficit of 306 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 16,136 million Euros, showing an under performance of 265 million Euros or 1.6 % against the monthly target of State Budget 2014.

Ordinary Budget net revenues amounted to 13,842 million Euros, 1,053 million Euros or 7.1% lower than the target.

State Budget Tax Revenues amounted to 12,588 million Euros, lower by 399 million Euros or 3.1 % against the target.

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

  1. The Personal Income Tax (P.I.T) by 137 million Euros or 8.0%.
  2. The Property Taxes by 42 million Euros or 4.5%.
  3. The Other Direct Taxes by 204 million Euros or 40.8% higher than the monthly target, mainly due to the receipts of the Luxury Tax.
  4. The V.A.T. of other products by 98 million Euros or 2.7%.
  5. The Capital Concentration Tax by 49 million Euros or 121,9%.
  6. The Other Indirect Taxes by 17 million Euros or 18.9%.

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

  1. ANFAs and SMPs by 500 million Euros or 59.7%, due to the fact that this amount will be received in the second semester of 2014.
  2. The Corporate Income Tax (CIT) by 57 million Euros or 24.2 %, although comparing to the receipts of 2013 there is significant higher by 124 million Euros.
  3. The Direct Tax Arrears by 84 million Euros or 7.7 %.
  4. The VAT on fuel by 382 million Euros or 36.5 % and the excise tax on fuel by 182 million Euros or 12.2 %.
  5. Receipts from road duties, by 46 million Euros or 43.8%.
  6. The Indirect Tax Arrears by 104 million Euros or 31.9%.

Tax refunds amounted to 906 million Euros, increased against the target (475 million Euros) by 431 million Euros.

PIB revenues amounted to 2,295 million Euros, increased against the target by 788 million Euros.

State Budget expenditures amounted to 17,282 million Euros, 578 million Euros lower than the target (17,861 million Euros).

Specifically, ordinary budget expenditures amounted to 15,884 million Euros and were decreased by 976 million Euros against target, mainly due to the reduction of primary expenditure by 809 million Euros against the target (14,047 million Euros).

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 1,448 million Euros or by 8.4%, despite the fact that the expenditure for net interest payments are increased by 73 million Euros, comparing to the same period last year. This decrease is mainly due to the reduction of primary expenditure by 1,414 million Euros or 9.6% comparing to the same period of 2013.

Public Investment Budget (PIB) expenditure amounted to 1,398 million Euros and increased by 398 million Euros comparing to the target (1,000 million Euros) and by 562 million Euros comparing to the same period last year. 

 



State Budget Execution for the 4 months January-April 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 4 months of 2014 presented a deficit of 1,144 million Euros against the target for deficit of 1,459 million Euros and the deficit of 2,426 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 1,048 million Euros, against the target for primary surplus of 742 million Euros and the primary deficit of 306 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 16,138 million Euros, showing an under performance of 263 million euros or 1.6 % against the monthly target of State Budget 2014.

Ordinary Budget net revenues amounted to 13,844 million Euros, 1,051 million Euros or 7.1% lower than the target, of which 500 million Euros concerns delay in the return of ANFA  & SMP Revenue.

State Budget Tax Revenues amounted to 12,784 million Euros, lower by 204 million euros or 1.6 % against the target.

Tax refunds amounted to 906 million Euros, increased against the target (475 million Euros) by 431 million Euros.

PIB revenues amounted to 2,295 million Euros, increased against the target by 788 million Euros.

State Budget expenditures amounted to 17,282 million euros, 578 million euros lower than the target (17,861 million euros).

Specifically, ordinary budget expenditures amounted to 15,884 million euros and were decreased by 976 million euros against target, mainly due to the reduction of primary expenditure by 809 million euros against the target (14,047 million Euros).

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 1,448 million euros or by 8.4%, despite the fact that the expenditure for net interest payments are increased by 73 million euros, comparing to the same period last year. This decrease is mainly due to the reduction of primary expenditure by 1,414 million euros or 9.6% comparing to the same period of 2013.

Public Investment Budget (PIB) expenditure amounted to 1,398 million euros and increased by 398 million euros comparing to the target (1,000 million euros) and by 562 million euros comparing to the same period last year. 



Financing - Payment of Arrears monthly bulletin March 2014



State Budget Execution for the 3 – months January-March of 2014

According to the final data available for the execution of the State Budget on a modified cash basis, the State Budget deficit for the 3 months of 2014 amounted to 448 million Euros against the target for deficit of 1,089 million Euros and the deficit of 1,354 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 1,541 million Euros, against the target for primary surplus of 878 million Euros and the primary surplus of 520 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 12,720 million Euros, showing an over performance of 136 million euros or 1.1 % against the monthly target of State Budget 2014.

Ordinary Budget net revenues amounted to 10,678 million Euros, 728 million Euros or 6.4% lower than the target.

State Budget Tax Revenues amounted to 9,666 million Euros, lower by 520 million euros or 5.1 % against the target.

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

  1. Other income tax by 44 million Euros or 10.5%.
  2. The Other Direct Taxes by 173 million Euros or 48.1% higher than the monthly target, mainly due to the receipts of the luxury tax.
  3. The VAT of other products by 125 million Euros or 4.8%.
  4. The Other Indirect Taxes by 18 million Euros or 29.4%.

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

  1. The Corporate Income Tax (CIT) by 189 million Euros or 87.5 %, mainly due to the extension until 30/4, on the submission and payment of  withholding taxes, which normally are paid on January.
  2. The Direct Tax Arrears by 82 million Euros or 8.7 %.
  3. The VAT on fuel by 288 million Euros or 37.2 % and the excise tax on fuel by 137 million Euros or 12.3 %.
  4. Receipts from road duties, by 46 million Euros or 47.3%.
  5. The Indirect Tax Arrears by 97 million Euros or 34.2%.

Tax refunds amounted to 703 million Euros, increased against the target (347 million Euros) by 356 million Euros.

PIB revenues amounted to 2,043 million Euros, increased against the target by 865 million Euros.

State Budget expenditures amounted to 13,168 million euros, 505 million euros lower than the target (13,673 million euros).

Specifically, ordinary budget expenditures amounted to 12,250 million euros and were decreased by 823 million euros against target, mainly due to the reduction of primary expenditure by 696 million euros against the target (10,557 million Euros).

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 963 million euros or by 7.3%, despite the fact that the expenditure for a) guarantees called to bodies classified inside the general government are increased by 349 million euros and b) net interest payments are increased by 115 million euros, comparing to the same period last year. This decrease is mainly due to the reduction of primary expenditure by 1,320 million euros or 11.8% comparing to the same period of 2013.

Public Investment Budget (PIB) expenditure amounted to 918 million euros and increased by 318 million euros comparing to the target (600 million euros) and by 439 million euros comparing to the same period last year.



Financing - Payment of Arrears monthly bulletin February 2014