According to a finance ministry statement, the central government’s primary surplus—which doesn’t take into account interest payments—rose to €1.74 billion for the January-to-March period, above the €119 million target set by Greece’s international creditors, and up from a €1.54 billion primary surplus in the year-earlier period.
Revenue in the first three months of the year totaled €12 billion, slightly higher than the €11.9 billion target.
Greece suffered a shortfall in January and February, because of lower tax revenue, but revenue in March amounted to €4.2 billion, beating a €3.2 billion target, Finance Minister Dimitris Mardas told reporters.
Spending continued to be held in check, with state budget expenditure totaling €12.5 billion—less than the €14 billion target set by creditors.
Source: WSJ
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