Greek Ministry of Finance announced yesterday that general government surplus, according to cash data, stood at €72m in 2M ’13 from €2,295m in 2M ‘12, with primary surplus at €1,375m down 57.1% y-o-y, incorporating:

-state budget (i.e. central government) deficit of €1,007m (2M ’12: surplus of €597m) and primary surplus of €268m (2M’12: €1,459m).

-extrabudgetary funds’ (i.e. legal entities) deficit of €209m (2M ’12: surplus of €126m)

-local governments’ surplus of €424m (2M ’12: €453m)

-social security funds’ surplus of €865m (2M ’12: €1,120m).

It is also noteworthy that general government arrears (>90days), incl. tax refunds, rose 1.4% m-o-m to €8,795m at the end of February (end-Jan: €8,676m), with state budget arrears at €538m (6.1% of total), local authorities’ at €961m (10.9%), hospitals’ at €2,012m (22.9%), social security funds’ at €4,295m (48.8%), extrabudgetary funds at €326m (3.7%) and tax refunds at €663m (7.5%).