According to the preliminary data available for the state budget implementation for the first seven months of 2010 (January - July), on a fiscal basis the deficit amounted to 12,097 million euro, versus 20,050 million euro during the same period of 2009 and consequently declined by 39.7%, against a targeted 39.5% annual decline foreseen in the economic policy programme.

The fiscal result of the seven months of 2010 is due to both a restriction of expenditures and increased revenues, and has been accomplished before the full attribution of the additional measures instituted on March and May, 2010.

The decline in the percentage reduction in the deficit from 45.4% in the first six months of 2010, to 39,7% for the seven months (January-July 2010) can be traced to ordinary revenue increases slightly lagging behind the target as well as to a substantial increase of interest expenditures in July.

In particular, net revenues of the ordinary budget increased by 4.1%, in reference to the same period of the previous year, against a targeted 13.7% annual increase.

Ordinary budget expenditures during the same time period declined by 10.0% against a targeted 5.5% annual decline. In particular, primary expenditures decreased by 12.6% against an annual target of a 5.8% decline and interest expenditures decreased by 0.2% against an annual target of a 5.6% increase.

Public Investment Budget (PIB) expenditures declined by 36.3%, whereas PIB revenues increased by 23.5%, compared to the same period of 2009.