Bank of Greece: the central government cash balance recorded deficit of €1,918 million in Jan-Jun 2014 vs. €8,720 million in the same period of 2013

ATHENS, 17-7-2014 — /EuropaWire/ — In January-June 2014, the central government cash balance recorded a deficit of €1,918 million, compared to a deficit of €8,720 million in the same period in 2013. During this period, ordinary budget revenue amounted to €21,912 million, compared to €20,276 million in the corresponding period of last year. It includes revenue of €1,310 million from repayment of preference shares, while revenue of €62 million regarding Securities Market Programme (SMP) income transfers from Eurosystem central banks is excluded. Ordinary budget expenditure, including expenditure of about €264 million for the repayment of arrears, as well as €451 million for Greece’s contribution to the European Stability Mechanism, amounted to €24,151 million, from €28,647 million in January-June 2013.

Τhe cash primary balance of the state budget (surplus €1,366 million) remains a surplus if revenue regarding Securities Market Programme (SMP) income transfers from Eurosystem central banks is included and revenue from repayment of preference shares, as well as expenditure for the repayment of arrears and for Greece’s contribution to the European Stability Mechanism are excluded.

Related link: Central government net borrowing requirement on a cash basis: January – June 2014 – Table