The Ministry of Finances announced on Wednesday that the state budget primary surplus was 1.929 billion euros, which was significantly less than what was expected.
According to the Ministry’s provisional data on the budget execution, on an amended cash basis, the state budget deficit came to 3.640 billion euros in 2014, down from 5.441 billion euros in 2013. The net budget revenue came to 51.327 billion euros, reduced by 7.2% from the 2015 budget provisions, while net regular budget revenues were down 7% from budget targets to 46.620 billion euros.
Furthermore, the Ministry’s announcement reveled that tax returns totaled 3.370 billion euros, up by 234 million euros from the budget targets, while the Public Investment Program’s revenue totaled 4.707 billion euros, down by 424 million euros from budget targets. Additionally, budget spending totaled 54.967 billion euros, with regular budget spending at 48.375 billion euros.
Finally, the regular budget spending declined by 6.6 % compared to 2013, reflecting a 5.4% reduction in primary spending. The Public Investment Program spending amounted to 6.592 billion euros, down by 209 million euros from the budget targets and down by 58 million euros compared to 2013.
