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Greek State Budget execution data for Q1 2015 encouraging, despite increase in government arrears

Greece Focus Notes

17 Απριλίου 2015
Greece’s finance ministry released earlier today preliminary data on the State Budget execution in the first quarter of 2015. The year-to-March Central Government budget recorded a €500mn deficit, which compares with a targeted shortfall of €2,111mn. In a similar vein, the primary balance (which excludes interest payments) recorded a surplus of €1,735mn, significantly outperforming the €119mn budget target and a surplus of €1,541mn generated in Q1 2014.
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