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Greek state budget records €434M deficit in 1H2017

19 July 17 - RE+D Magazine
Greek state budget records €434M deficit in 1H2017

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Greek state budget recorded a primary deficit of 434 million euros in the first half of 2017, from a primary surplus of 2.75 billion euros in the corresponding period last year, the Bank of Greece said in a report released on Wednesday.

 

The central bank said the budget deficit on a cash basis was 890 million euros in the January-June period this year from a deficit of 526 million in 2016.

The central bank attributed this development to a decline in regular budget revenue to 20.335 billion euros form 20.690 billion in 2016, while budget spending rose to 23.962 billion euros in the first half of 2017 from 22.182 billion in the same period in 2016.

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