ATHENS (Reuters) - Greece’s central government attained a primary budget surplus of 1.73 billion euros (£1.4 billion) in the first four months of the year, beating its target by 937 million euros thanks to privatisation revenues and lower spending.
The central government surplus excludes the budgets of social security organisations and local administration. It is different from the figure monitored by Greece’s EU/IMF lenders, but indicates the state of the country’s finances.
The government’s target was for a primary budget surplus - which excludes debt-servicing costs - of 798 million euros for the first four months of the year.
Net tax revenue came in at 14.6 billion euros, 152 million euros below target, while spending reached 15.9 billion euros, below a target of 17.06 billion euros. revenues from privatisations reached 956 million euros.
The government is aiming for a general government primary budget surplus of 1.9 percent of GDP this year, based on its medium term fiscal strategy plan. The bailout target is for a primary surplus of 1.75 percent of GDP.
Reporting by George Georgiopoulos