General government cash surplus at €72m in 2M’12 (MoF)

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…

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Fitch note on Greek Economy

In its latest comment on Greece (05/02/2013) Fitch noted that Greece has hit its fiscal target for 2012 and posted a minor primary surplus despite economic underperformance. The deficit reduction was achieved by a combination of larger than expected cuts in primary government expenditure and private and official sector debt relief. Fitch stressed that continued…

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