Budget Execution Bulletins

State Budget Execution for the 9 months January-September 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 9 months of 2014 presented a deficit of 2,287 million Euros against the revised target for deficit of 3,661 million Euros and the deficit of 2,657 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 2,530 million Euros, against the target for primary surplus of 1,551 million Euros and the primary surplus of 2,632 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 37,275 million Euros, showing an under performance of 405 million Euros or 1.1 % against the revised monthly target of MTFS 2015-2018.

Ordinary Budget net revenues amounted to 33,869 million Euros, 327 million Euros or 1.0 % lower than the revised target.

Tax refunds amounted to 2,600 million Euros, increased against the target (2,296 million Euros) by 304 million Euros.

PIB revenues amounted to 3,406 million Euros decreased against the target by 78 million Euros.

State Budget expenditures amounted to 39,562 million Euros, 1,779 million Euros lower than the revised target (41,341 million Euros).

Specifically, ordinary budget expenditures amounted to 35,914 million Euros and were decreased by 1,960 million Euros against the revised target, mainly due to the reduction of primary expenditure by 1,242 million Euros against the revised target (31,648 million Euros) and the reduction of military procurement (on a cash basis) by 247 million Euros and the net interest payments by 395 million Euros.

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2,705 million Euros or by 7.0%. This decrease is mainly due to the reduction of primary expenditure by 1,852 million Euros or 5.7% comparing to the same period of 2013 despite the fact that expenditures increased by 483 million Euros for social dividend, 37 million Euros for heating allowance and 68 million Euros for electoral expenditure.

Public Investment Budget (PIB) expenditure amounted to 3,648 million Euros, increased by 180 million Euros comparing to the target (3,468 million Euros) and by 882 million Euros comparing to the same period last year.



State Budget Execution for the 8 – months January-August 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 8 months of 2014 presented a deficit of 2,849 million Euros against the revised target for deficit of 4,117 million Euros and the deficit of 2,502 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 1,946 million Euros, against the target for primary surplus of 962 million Euros and the primary surplus of 2,861 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 32,919 million Euros, showing an under performance of 329 million Euros or 1 % against the revised monthly target of MTFS 2015-2018.

Ordinary Budget net revenues amounted to 29,571 million Euros, 266 million Euros or 0.9% lower than the revised target.

State Budget Tax Revenues amounted to 27,790 million Euros, lower by 450 million Euros or 1.6 % against the revised target.

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

         1. The Personal Income Tax (P.I.T.) by 403 million Euros or 9.0 %.

         2. The Other Direct Taxes by 192 million Euros or 11.5 %,

         3. The Other Non-Tax Revenue by 318 million Euros or 14.8%.

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

         1. The Corporate Income Tax (CIT) by 243 million Euros or 12.7%,

         2. The Other Direct Income Tax by 186 million Euros or 13.6%,

         3. The Property Taxes by 546 million Euros or 26.1% due to the time differentiation of the first two installments of ENFIA.

Tax refunds amounted to 2,177 million Euros, increased against the target (2,018 million Euros) by 159 million Euros.

PIB revenues amounted to 3,348 million Euros decreased against the target by 64 million Euros.

State Budget expenditures amounted to 35,769 million Euros, 1,597 million Euros lower than the revised target (37,366 million Euros).

Specifically, ordinary budget expenditures amounted to 32,461 million Euros and were decreased by 1,737 million Euros against the revised target, mainly due to the reduction of primary expenditure by 1,198 million Euros against the revised target (28,198 million Euros) and the reduction of military procurement (on a cash basis) by 197 million Euros and the net interest payments by 284 million Euros.

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2,390 million Euros or by 6.9%. This decrease is mainly due to the reduction of primary expenditure by 1,447 million Euros or 5.1% 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 66 million Euros for electoral expenditure.

Public Investment Budget (PIB) expenditure amounted to 3,308 million Euros and increased by 140 million Euros comparing to the target (3,168 million Euros) and by 764 million Euros comparing to the same period last year. 



State Budget Execution for the 8 – months January-August 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 8 months of 2014 presented a deficit of 2,845 million Euros against the revised target for deficit of 4,117 million Euros and the deficit of 2,502 million Euros for the same period of 2013. The State Budget Primary Balance amounted to a surplus of 1,951 million Euros, against the target for primary surplus of 962 million Euros and the primary surplus of 2,861 million Euros performed at the same period of the previous year.

State Budget net revenues amounted to 32,924 million Euros, showing an under performance of 325 million Euros or -1.0 % against the revised monthly target of MTFS 2015-2018.

Ordinary Budget net revenues amounted to 29,577 million Euros, 260 million Euros or 0.9 % lower than the revised target.

Tax refunds amounted to 2,177 million Euros, decreased against the target (2,018 million Euros) by 159 million Euros.

PIB revenues amounted to 3,347 million Euros decreased against the target by 65 million Euros.

State Budget expenditures amounted to 35,769 million Euros, 1,597 million Euros lower than the revised target (37,366 million Euros).

Specifically, ordinary budget expenditures amounted to 32,461 million Euros and were decreased by 1,737 million Euros against the revised target, mainly due to the reduction of primary expenditure by 1,198 million Euros against the revised target (28,198 million Euros) and the reduction of military procurement (on a cash basis) by 197 million Euros and the net interest payments by 284 million Euros.

Ordinary Budget expenditures were reduced compared to the respective period of 2013 by 2,390 million Euros or by 6.9%. This decrease is mainly due to the reduction of primary expenditure by 1,447 million Euros or 5.1% 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 66 million Euros for electoral expenditure.

Public Investment Budget (PIB) expenditure amounted to 3,308 million Euros and increased by 140 million Euros comparing to the target (3,168 million Euros) and by 764 million Euros comparing to the same period last year.



State Budget Execution for the 7 – months January-July 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 7 months of 2014 presented a deficit of 1,736 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 2,279 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 29,530 million Euros, showing an over performance of 651 million Euros or 2.3 % against the revised monthly target of MTFS 2015-2018.

 Ordinary Budget net revenues amounted to 26,240 million Euros, 451 million Euros or 1.7% higher than the revised target.

 State Budget Tax Revenues amounted to 24,485 million Euros, higher by 342 million Euros or 1.4 % against the revised target.

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

  1. The Personal Income Tax (P.I.T.) by 555 million Euros or 14.5%.
  2. The Other Direct Taxes by 212 million Euros or 14.7%,
  3. The Other Transaction Taxes by 81 million Euros or 28.0%,
  4. The Other Non-Tax Revenue by 320 million Euros or 15.8%.

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

  1. The Other Income Tax by 178 million Euros or 15.3%,
  2. The Property Taxes by 246 million Euros or 15.0%,
  3. The Indirect Tax Arrears by 40 million Euros or 10.5%.

Tax refunds amounted to 2,002 million Euros, increased against the target (1,740 million Euros) by 262 million Euros.

PIB revenues amounted to 3,290 million Euros increased against the target by 200 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.  



Financing - Payment of Arrears monthly bulletin - June 2014