With State revenue at 4.1 billion euros in August – 200 million above target – and the Finance Ministry’s deferred expenditure policy since July, the primary surplus was found to be 3.8 billion euros at the end of August!
This surprising development will now allow the Ministry of Finances to expedite payments towards debts that have been generated in past months. In August tax returns (VAT towards businesses) increased to 225 million euros, while overall expenses exceeded 3.7 billion euros, without creating any new debts towards suppliers.
Furthermore, the budget estimates will be revised, with the trend of increased revenue carrying on in September as well. It has been estimated that in first two weeks of September about 600 million euros have bee paid towards NSRF projects and programs, as well as hospital supplies.
