General Government data signals that the Government is still on track to meet the full-year deficit target, despite rising overshooting risks (August 03, 2012) | Eurobank
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General Government data signals that the Government is still on track to meet the full-year deficit target, despite rising overshooting risks (August 03, 2012)

• Year-to-June 2012 General Government Deficit recorded a decrease of ca 12.9% YoY
• Primary deficit at ca 0.49 bn, decreased by 87.8% YoY on the back of decreased grants to general government entities and rationalization of wages and pensions expenditures
• General government arrears at elevated levels; increased relative to their end-of-May 2012 level
• Creation of new arrears might bring forward doubts over the attainability of the 2012 fiscal target given the still lingering weaknesses in the reporting of general government obligations