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Greece’s Jan-Aug. primary budget surplus beats target

Greece recorded a central government primary budget surplus of 5.59 billion euros ($5.95 billion) in the January-to-August period on the back of higher tax revenues and lower spending, finance ministry data showed on Monday.

The government had targeted a primary budget surplus – which excludes debt-servicing costs, social security and local administration budgets – of 2.3 billion euros for the first eight months of the year.

Budget revenues came in at 41 billion euros, exceeding the government’s target by 47 million euros, the data showed.

Spending came in at 43.2 billion euros, 2.27 billion euros below the government’s target.
Source: Reuters (Reporting by Lefteris Papadimas)

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