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Home arrow About Us arrow Embassy of Greece in London arrow News arrow General gov’t surplus at 2.3bln euro in 11-month period

General gov’t surplus at 2.3bln euro in 11-month period

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Greece's general government budget posted a primary surplus of 2.3 billion euros, on a non-consolidated basis, in the first 11 months of 2012, against a primary deficit of 3.6 billion euros in the corresponding period of 2011, the Finance Ministry said on Wednesday.

The ministry said that the performance in the 11-month period remained at the same level as the 10-month period of 2012, with a reduction of 119 million euro in the state's outstanding debts in November. It added that the General Government data of the 11-month period of January-November 2012 "confirm the satisfactory execution of the budget", noting that "these positive developments in the execution of the budget indicate that the effort fiscal streamlining, adjustment and discipline are bearing fruit, while the conditions are also being created for a gradual re-start of the economy, aiming for the country to move on from a deficits cycle to a cycle of sustainable growth, on firm foundations".

SOURCE: ATHENS NEWS AGENCY

 

Last Updated Thursday, 03 January 2013
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