Budget Execution Bulletins

State Budget Execution for the 5  months  January-May 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 5 months of 2014 presented a deficit of 1,990 million Euros against the revised target for deficit of 2,559 million Euros and the deficit of 3,843 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 surplus of 208 million Euros and the primary deficit of 970 million Euros performed at the same period of the previous year.

 State Budget net revenues amounted to 19,600 million Euros, showing an over performance of 40 million Euros or 0.2 % against the revised monthly target of MTFS 2015-2018.

Ordinary Budget net revenues amounted to 17,300 million Euros, 57 million Euros or 0.3% higher than the revised target.

State Budget Tax Revenues amounted to 16,060 million Euros, higher by 140 million Euros or 0.9 % against the revised target.

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

        1. The Corporate Income Tax (C.I.T) by 274 million Euros or 57.8%.

        2. The Property Taxes by 23 million Euros or 2%,

        3. The Other Direct Taxes by 7 million Euros or 0.7%,

        4. The V.A.T. of other products by 41 million Euros or 0.9%,

        5. The Other Transaction Taxes by 14 million Euros or 6.6%,

        6. The Other Indirect Taxes by 22 million Euros or 16.6%,

        7. The Other Non-Tax Revenue by 24 million Euros or 1.5%.

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

        1. The Personal Income Tax (PIT) by 95 million Euros or 4%,

        2. The Other Income Tax by 36 million Euros or 5.1%,

        3. The Other Excise Taxes by 36 million Euros or 3.5%,

        4. The Other Consumption Taxes by 22 million Euros or 17.7%,

        5. The Liquidity Support Plan Proceeds by 29 million Euros or 33.4%.

Tax refunds amounted to 1,268 million Euros, increased against the target (1,184 million Euros) by 85 million Euros.

PIB revenues amounted to 2,300 million Euros, decreased against the target by 16 million Euros.

State Budget expenditures amounted to 21,590 million Euros, 529 million Euros lower than the revised target (22,119 million Euros).

Specifically, ordinary budget expenditures amounted to 19,810 million Euros and were decreased by 641 million Euros against the revised target, mainly due to the reduction of primary expenditure by 459 million Euros against the revised target (17,103 million Euros).

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2,057 million Euros or by 9.4%. This decrease is mainly due to the reduction of primary expenditure by 1,528 million Euros or 8.4% comparing to the same period of 2013 despite the fact that expenditures increased by approximately 210 million Euros, of which 169 million Euros for social dividend and 42 million Euros for heating allowance.

Public Investment Budget (PIB) expenditure amounted to 1,780 million Euros and increased by 113 million Euros comparing to the target (1,668 million Euros) and by 639 million Euros comparing to the same period last year.

 



Financing - Payment of Arrears monthly bulletin April 2014



State Budget Execution for the 5 months January-May 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 5 months of 2014 presented a deficit of 1,985 million Euros against the revised target for deficit of 2,559 million Euros and the deficit of 3,843 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 711 million Euros, against the target for primary surplus of 208 million Euros and the primary deficit of 970 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 19,605 million Euros, showing an over performance of 45 million Euros or 0.2 % against the revised monthly target.

Ordinary Budget net revenues amounted to 17,305 million Euros, 62 million Euros or 0.4% higher than the revised target.

Tax Revenues amounted to 16,174 million Euros, higher by 254 million Euros or 1.6 % against the revised target.

Tax refunds amounted to 1,269 million Euros, increased against the revised target (1.184 million Euros) by 85 million Euros.

PIB revenues amounted to 2,300 million Euros, decreased against the revised  target by 16 million Euros.

State Budget expenditures amounted to 21,591 million Euros, 529 million Euros lower than the revised target (22,119 million Euros).

Specifically, ordinary budget expenditures amounted to 19,810 million Euros and were decreased by 641 million Euros against the revised target, mainly due to the reduction of primary expenditure by 459 million Euros against the revised target (17,103 million Euros).

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2,057 million Euros or by 9.4%. This decrease is mainly due to the reduction of primary expenditure by 1,528 million Euros or 8.4% comparing to the same period of 2013 despite the fact that expenditures increased by approximately 210 million Euros, of which 169 million Euros for social dividend and 42 million Euros  for heating allowance.

Public Investment Budget (PIB) expenditure amounted to 1,780 million Euros and increased by 113 million Euros comparing to the target (1,668 million Euros) and by 639 million Euros comparing to the same period last year. 



Monitoring of the achievement of the State Budget’s targets for the first 3-months of 2014 Bulletin



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.