Budget Execution Bulletins

Monitoring of the achievement of the General Government legal entries' targets with budjet over 20 milion euros for the 9-months of 2013



State Budget Execution for the 11 - months of 2013

According to the data available for the execution of the State Budget on a modified cash basis, the State Budget deficit for the 11 months of 2013 amounted to 3,155 million Euros against the revised target for deficit of 4,290 million Euros and the deficit of 12,853 million Euros for the 11 months of 2012. The State Budget Primary Balance amounted to a surplus of 2,778 million Euros, against the revised target for primary surplus of 1,659 million Euros and the primary deficit of 1,420 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 47,231 million Euros, showing an over performance of 136 million euros or 0.3% against the revised target (47,095 million Euros).

Ordinary Budget net revenues amounted to 42,807 million Euros, 125 million Euros or 0.3% higher than 2013 estimates (42,682 million Euros)

State Budget Tax Revenues amounted to 39,549 million Euros, marginally higher by 8 million euros against the target.

Specifically, revenue categories that over performed against 11 month target are:

    1. Property taxes by 109 million Euros or 4.2%,

    2. Direct tax Arrears by 53 million Euros or 2%,

    3. V.A.T other by 213 Million Euros or 2.1%,

    4. Other Non-Tax Revenues by 81 million Euros or 3.8%.

On the contrary, State Budget revenues showing underperformance against the target are:

   1. Personal Income Tax by 107 million Euros or 1.5%

   2. Other Direct Taxes by 130 million Euros or 5.4%.

    Tax refunds amounted to 2,471 million Euros, decreased against the target by 24 million Euros or 0.9%. On top of this amount, 639 million Euros have been refunded which concern previous year’s Tax refunds.

    Public Investment Budget Revenues amounted to 4,424 million Euros increased by 11 million Euros or 0.2% against the target but, 49.6% higher than 11month 2012 period.

    State Budget expenditures amounted to 50,385 million euros, 999 million euros lower than the revised target (51,384 million euros).

    Specifically, ordinary budget expenditures amounted to 46,435 million euros and were decreased by 744 million euros against revised target, mainly due to the reduction of primary expenditure by 523 million euros against the revised target (39,795 million Euros).

    Ordinary Budget expenditures were reduced compared to the respective period of 2012 by 8,651 million euros or by 15.7%. This decrease is mainly due to the reduction of primary expenditure by 3,110 million euros or 7.3% as well as to the reduction in net interest payments by 5,501 million euros or 48.1% comparing to the same period of 2012. 



    State Budget Execution for the 11 months of 2013

    According to the preliminary data available for the execution of the State Budget on a modified cash basis, the State Budget deficit for the 11 months of 2013 amounted to 3,223 million Euros against the revised target for deficit of 4,290 million Euros and the deficit of 12,852 million Euros for the 11 months of 2012. The State Budget Primary Balance amounted to a surplus of 2,710 million Euros, against the revised target for primary surplus of 1,659 million Euros and the primary deficit of 1,419 million Euros performed at the same period of the previous year.

    State Budget net revenues amounted to 47,162 million Euros, showing an over performance of 67 million euros or 0.1% against the revised target.

    Ordinary Budget net revenues amounted to 42,738 million Euros, 57 million Euros or 0.1% higher than 2013 estimates.

    State Budget Tax Revenues amounted to 39,498 million Euros, marginally lower by 43 million euros or -0.1% against the 2013 estimates.

    State Budget expenditures amounted to 50,385 million euros, 1,000 million euros lower than the revised target (51,384 million euros).

    Specifically, ordinary budget expenditures amounted to 46,435 million euros and were decreased by 745 million euros against revised target, mainly due to the reduction of primary expenditure by 523 million euros against the revised target (39,795 million Euros).

    Ordinary Budget expenditures were reduced compared to the respective period of 2012 by 8,651 million euros or by 15.7%. This decrease is mainly due to the reduction of primary expenditure by 3,111 million euros or 7.3% as well as to the reduction in net interest payments by 5,501 million euros or 48.1% comparing to the same period of 2012. 



    Financing - Payment of Arrears monthly bulletin October 2013



    General Government Data Monthly Bulletin October 2013



    State Budget Execution for the 10 - months of 2013

    According to the data available for the execution of the State Budget on a modified cash basis, the State Budget deficit for the 10 months of 2013 amounted to 2,958 million Euros against the target for deficit of 8,726 million Euros and the deficit of 12,258 million Euros for the 10 months of 2012. The State Budget Primary Balance amounted to a surplus of 2,590 million Euros, against the target for primary deficit of 3,036 million Euros and the primary deficit of 1,139 million Euros performed at the same period of the previous year.

    State Budget net revenues amounted to 42,950 million Euros, showing an over performance of 2,310 million Euros or 5.7% against the 10month target 2013 (40,640 million Euros).

    Ordinary Budget net revenues amounted to 38,937 million Euros, 1,847 million Euros or 5.0% higher than the target (37,090 million Euros).

    State Budget Tax Revenues amounted to 35,573 million Euros, 229 million Euros higher or 0.6% against the 10month target (35,344 million Euros). It is noted that the very satisfactory performance of the tax revenues in October has already covered the underperformance of the previous months (1,061 million euros in the first 7months, 728 million Euros in the 8months and 455 million euros in the 9month period).

    Ιn October tax categories that exceeded the target are the following:

    • the direct taxes amounted to 2,225 million Euros higher by 765 million Euros or 34.4% against the monthly target.

    • The Personal Income Tax (PIT) amounted to 963 million Euros exceeding the monthly target by 337 million Euros or 35%.

    • The Corporate Income Tax (CIT) amounted to 187 million Euros, 36 million Euros or 19.1% higher than the target.

    • The Property Taxes amounted to 388 million Euros, exceeding the monthly target by 247 million Euros or 63.6%, which partially is attributed to the collection of the first installment of FAP 2013 that was projected for November.

    • The Direct Tax Arrears amounted to 201 million Euros, 31 million Euros or 15.4% higher than the target.

    • The Other Direct Taxes amounted to 355 million Euros, 112 million Euros or 31.6% higher than the monthly target.

    • The VAT of other products amounted to 1,245 million Euros, 73 million Euros or 5.9% higher that the target.

    On the contrary, in October some indirect tax revenue categories were underperformed:

    • The VAT on fuel amounted to 176 million Euros, 42 million Euros or 23.6% lower than the target.

    • The excise tax on fuel which reached 345 million Euros, 40 million Euros or 11.7% lower than the target.

    It is noted that in October tax refunds were amounted to 558 million Euros, 293 million Euros higher or 110.6% higher than the monthly target of 265 million Euros.

    State Budget expenditures amounted to 45,908 million Euros, 3,458 million Euros lower than the target (49,366 million Euros).

    Specifically, ordinary budget expenditures amounted to 42,584 million Euros and were decreased by 1,882 million Euros against target, mainly due to the reduction of primary expenditure by 1,476 million Euros against target (37,312 million Euros).

    Ordinary Budget expenditures were reduced compared to the respective period of 2012 by 8,175 million Euros or by 16.1%. This decrease is mainly due to the reduction of primary expenditure by 2,589 million Euros or 6.7% as well as to the reduction in net interest payments by 5,571 million Euros or 50.1% comparing to the same period of 2012. 



    State Budget Execution for the 10 - months of 2013

    According to the preliminary data available for the execution of the State Budget on a modified cash basis, the State Budget deficit for the 10 months of 2013 amounted to 2,957 million Euros against the target for deficit of 8,726 million Euros and the deficit of 12,258 million Euros for the 10 months of 2012. The State Budget Primary Balance amounted to a surplus of 2,592 million Euros, against the target for primary deficit of 3,036 million Euros and the primary deficit of 1,139 million Euros performed at the same period of the previous year.

    State Budget net revenues amounted to 42,948 million Euros, showing an over performance of 2,308 million Euros or 5.7% against the 10month target 2013 (40,640 million Euros).

    Ordinary Budget net revenues amounted to 38,935 million Euros, 1,845 million Euros or 5.0% higher than the target (37,090 million Euros).

    State Budget Tax Revenues amounted to 35,594 million Euros, 250 million Euros higher or 0.7% against the 10month target (35,344 million Euros). It is noted that the very satisfactory performance of the tax revenues in October has already covered the underperformance of the previous months (1,061 million euros in the first 7months, 728 million Euros in the 8months and 455 million euros in the 9month period).

    It is noted that in October tax refunds were amounted to 558 million euros, 293 million euros higher or 110.6% higher than the monthly target of 265 million euros.

    State Budget expenditures amounted to 45,905 million euros, 3,461 million euros lower than the target (49,366 million euros).

    Specifically, ordinary budget expenditures amounted to 42,580 million euros and were decreased by 1,886 million euros against target, mainly due to the reduction of primary expenditure by 1,480 million euros against target (37,312 million Euros).

    Ordinary Budget expenditures were reduced compared to the respective period of 2012 by 8,179 million euros or by 16.1%. This decrease is mainly due to the reduction of primary expenditure by 2,592.5 million euros or 6.7% as well as to the reduction in net interest payments by 5,571 million euros or 50.1% comparing to the same period of 2012.