A budget surplus of €84,3 millions which equals to a GDP of 0.53 %, the consolidated accounts of the Central Government have shown for the first two months of 2014, an improvement which is mainly due to a significant reduction in public spending.
According to the figures released today by the Ministry of Finance, the budget surplus for January – February 2014 period reached €84,29 million or 0.53 % of GDP compared to a surplus of 41.91 million or 0.25 % of GDP the corresponding period of 2013 .
At the same time, the primary surplus (excluding debt servicing costs) reached € 179, 82 million compared to €146,72 million in the January – February 2013 period.
Public revenue in the first two months of the current year reached € 1,07 bn, recording a decrease of 7.26 % , which in absolute numbers equals to € 84,01 million compared to € 1,16 billion in the corresponding period of 2013 .
In the framework of the ongoing recession , revenue from income tax recorded a significant decrease of 15.5% reaching 125.23 million compared to € 148,3 million in the corresponding period of 2013 .
Import duties have recorded a significant decrease of 37% reflecting the ongoing contraction in imports , which in absolute numbers have reached € 5,32 million compared to 8.45 million in the January – February 2013 period .
Non-tax revenue recorded the largest decrease reaching €124,95 million recording a decrease of € 116 million or 48.1 % compared to January – February 2013 .
Conversely, indirect tax revenue recorded an increase of 19.5 % reaching € 276,12 million compared with 231 in the corresponding period of 2013 .
Indirect taxes have also recorded an increase reaching € 372,57 million increased by 5.78 % compared to € 355,64 million in the first two months of 2013 .
Revenue from excise taxes increased by 6,62% (€ 6,8 million ) and reached € 109,64 million compared to € 102,83.
VAT Revenue recorded a marginal increase of 0.16 % reaching € 193,84 million compared to 193.54 million in the first two months of 2013 .
Public expenditure in the January – February 2014 period reached € 989,27 million recoring a decrease of €126,4 million or 11.33 % .
The current expenditures in the first two months of 2014 recorded a decrease of 10.81 % reaching €982,2 million compared to € 1,101 million in the corresponding period of 2013 .
Wages and salaries reached € 264,9 million compared to € 278,6 in January – February 2013 period , recording a decrease of 4.92 % .
