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Central Government Net Borrowing Requirement on a cash basis:January-March 2010

16/04/2010 - Press Releases

In the January-March 2010 period the Central Government cash deficit (net borrowing requirement) decreased to 5,678 million euros from 6,354 million euros in the corresponding period of 2009. During this period, the ordinary budget revenue decreased to 11,766 million euros from 11,796 million euros last year. It is worth-noting that ordinary budget revenues in March 2010 were negatively affected by the delayed collection of March VAT receipts, amounting to 513.68 million euros which was collected on April 6, 2010 due to Easter holidays. As far as the expenditure is concerned, during the first quarter of the year it decreased to 15,046 million euros compared with 15,396 million euros in 2009. Ordinary budget expenditures in March 2010 include the payment of the Easter allowance (amounting to about 500 million euros) which was paid in April last year.  

In addition, the primary deficit of the state budget showed a decline and reached 2,916 million euros compared with 3,732 million euros recorded in the January-March period of 2009.


Central Government Net Borrowing Requirement on a Cash Basis

(million euros)

Annual data

March3

January – March 3

2008

2009

2009

2010*

2009

2010*

-11,569

-24,621

I. NET BALANCE OF THE ORDINARY BUDGET

-2,242

-3,526

-3,724

-4,522

Revenue

52,153

48,560

3,853

3,306

11,796

11,766

Expenditure

64,272

74,790

5,978

6,491

15,396

15,046

Change of State deposits in the Bank of Greece

550

1,609

-117

-341

-124

-1,242

ΙΙ. NET BALANCE OF THE PUBLIC

-4,776

-7,304

INVESTMENT BUDGET

-712

-573

-2,427

-1,184

ΙΙΙ. NET BALANCE OF THE STATE BUDGET(Ι+ΙΙ)

-16,345

-31,925

-2,954

-4,099

-6,151

-5,706

IV. INTEREST PAYMENTS:

10,813

12,276

1,445

1,919

2,419

2,790

Treasury bills

49

112

0

0

41

37

Bonds

9,604

9,838

873

1,645

1,566

2,064

Other

1,160

2,326

572

274

812

689

V. PRIMARY BALANCE OF THE STATE

BUDGET (ΙΙΙ - ΙV)

-5,532

-19,649

-1,509

-2,180

-3,732

-2,916

VI. Change of the State debit and public

-1,016

-697

debt management accounts1

3

62

-203

28

VII. NET BALANCE OF THE STATE BUDGET (ΙΙΙ+VI) 2

-17,361

-32,622

-2,951

-4,037

-6,354

-5,678

(including movements in public debt management accounts)

Notes:

1/ Including movements in DEKA and other public debt management accounts.

2/ Not including the outcome of the Payment and Control Agency for Guidance and Guarantee of Community Aids (OPEKEPE).

3/ Ordinary budget revenues in March 2010 were negatively affected by the delayed collection of March VAT receipts, amounting to 513.68 million euros which was collected on 6 April 2010 due to Easter holidays. Moreover, ordinary budget expenditures in March 2010 include the payment of the Easter allowance which was paid in April last year.

*Provisional data

Source: Bank of Greece

 

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