Tag Archives: Greek budget

July budget execution: bottom-line surprises on the upside, revenues on the downside

MoF data on July budget execution show that, after a temporary rebound in June, revenues (excl. tax refunds) resumed their downward trend easing by 18.6% y-o-y in July and bringing the 7-month figure down 6.9% y-o-y to€27.9bn.

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Greek general government cash deficit eases to €9.9bn in 6M’12

Latest MoF data show that general government deficit, according to cash data, eased by 12.9% y-o-y to €9,880m in 6M’12 from €11,347m last year with primary deficit substantially improving to €490m from €4,013m in H1’11.

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Some thoughts on the media communication of Greek budget execution data to the public

Media continue to downplay the decent primary expenditure performance, while focus and point out particularly the revenue lag. They also repeatedly mention total – and not primary – expenditure which includes interest payments and, particularly for this year, also incorporates … Continue reading

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Greek June budget revenues rebounded, yet still falling short of targets – bottom-line much better than targeted

According to the final data for 6M’12 budget execution released by MoF, revenues (excl. tax refunds) rebounded in June (up 3.0% y-o-y), after easing by 14.9% and 12.8% in the previous two months, bringing the 6-month figure down 4.4% y-o-y … Continue reading

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Greek June budget execution – Revenues rebounded, yet continued falling short of targets; bottom-line much better-than-expected

Revenues (excl. tax refunds) rebounded in June (up 2.0%), after easing by 14.9% and 12.8% in the previous two months, bringing the 6-month figure down 4.5% y-o-y.

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Greek general government deficit at €8.2bn in 5M’12

General government deficit, according to cash data, stood at €8,183m in 5M’12 (5M’11: €8,049m) up just 1.7% y-o-y with primary surplus at €555m (5M’11: deficit of €1,985m), incorporating:

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