Budget result beats target by 1.135 bln

The dividend of the Bank of Greece and the excessive revenues of the Public Investments Program more than doubled the primary budget surplus in the first couple of months of the year, to 2.75 billion euros against an anticipated 1.3 billion, officials data showed on Monday.

There were some shortfalls in revenues from the special consumption taxes and from value-added tax revenues – particularly concerning energy commodities – but they did not exceed 100 million euros.

The figures issued by the State General Accounting Office showed that the net revenues of the state budget came to 8.975 billion euros – 1.135 billion or 14.5 percent over the target – while expenditure missed its target by 310 million euros.

February saw the collection of the central bank’s dividend, which amounted to 614.2 million euros, compared to a target for 400 million. Public Investment Program revenues reached 675 million euros in the January-February period – 452 million or almost 200 percent above the budget’s target. In February the program’s spending was just below the target of 106 million euros, at 104 million.