Greece’s budget deficit higher than expected-report
2022.12.15 08:03
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Greece’s budget deficit higher than expected-report
Budrigannews.com – Data from the finance ministry showed on Thursday that tax revenues slightly exceeded initial estimates, which resulted in a primary budget deficit for the central government of Greece that was lower than anticipated over the first eleven months of the year.
From January to November, the deficit was 1.126 billion euros ($1.20 billion), exceeding the government’s goal of 2.239 billion euros.
Debt service costs are not included in the primary budget.
The primary budget gap is anticipated to narrow to 1.6% of GDP this year, down from 7.3% in 2021, before turning into a surplus the following year, according to the most recent government projections from November.
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According to the data, total revenue for January through November was 58.94 billion euros, which was 0.8% more than the target.
Deputy Finance Minister Theodore Skylakakis stated in a statement, “The fact that tax revenues slightly beat estimates makes achieving the target for the 2022 primary budget deficit in 2022 safer.”
The data indicated that spending reached 59 billion euros, 826 million euros below target.
