Greek government replies to Troika with surpluses
Greek government replies to Troika with surpluses
5.7 billion euros left over in State funds - 400 million euros primary surplus in October - Just 200 million euros will be paid to government debts in December
The Greek government sends a message to Troika and the markets that Greece has surpassed the target for a primary surplus of 344 million euros and expects a surplus of 812 million.
Based on figures from the General Government, which were published by the Ministry of Finance:
- cash flow data of January-October 2013, without repayment of government arrears, result in a primary surplus of 5.7 billion euros from 2.5 billion euros in the corresponding period in 2012
- on a fiscal basis, according to Eurostat rules and taking into account all outstanding obligations, the primary surplus amounts to 2.6 billion euros against 0.9 billion a year earlier
- based on the Memorandum and Economic Policy Program conditions that apply to Greece, without yields of Greek bonds by European central banks of 2.18 billion euros, there is a primary surplus of about 400 million euros
Problems in repaying debts
The procedure for repayment of outstanding obligations of the Greek General Government to private individuals continues with problems. The progress so far confirms the assessment of 6.6 billion euros funding by the end of the year.
Based on figures from the General Government, which were published by the Ministry of Finance:
- cash flow data of January-October 2013, without repayment of government arrears, result in a primary surplus of 5.7 billion euros from 2.5 billion euros in the corresponding period in 2012
- on a fiscal basis, according to Eurostat rules and taking into account all outstanding obligations, the primary surplus amounts to 2.6 billion euros against 0.9 billion a year earlier
- based on the Memorandum and Economic Policy Program conditions that apply to Greece, without yields of Greek bonds by European central banks of 2.18 billion euros, there is a primary surplus of about 400 million euros
Problems in repaying debts
The procedure for repayment of outstanding obligations of the Greek General Government to private individuals continues with problems. The progress so far confirms the assessment of 6.6 billion euros funding by the end of the year.
However, as the Finance Ministry acknowledges, problems arose that slowed the rate of repayment, while some operators continue to accumulate new arrears.
Ministry figures show that since the start of the process until the end of November, it has completed the funding requests of 6.4 billion euros.
It is thus calculated that private individuals in December will only receive 200 million euros, compared to the 400-500 million of previous months.
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