950 million euros primary surplus in 2013

According to reports, the Finance Ministry estimates that the primary surplus of the general government in 2013 will reach 950 million euros, a significant excess of the revised target of 812 million in the budget.

The figures on the exact level of the primary surplus are expected to be finalized soon and validated by Eurostat in April, but deputy Finance Minister Christos Staikouras predicted from yesterday that it will reach over 800 million euros.

The government's goal is immediately after the validation of the figures by Eurostat, to proceed in decisions about the allocation and distribution of the largest part of this amount to economically weaker sections of the population. Under the terms of the memorandum, the government can distribute 70% of the excess of the primary surplus. This means it can allocate about 700 million euros to strengthen the financially weak when the primary goal of the 2013 budget had zero surplus.

The issue is expected to be the subject of negotiations between the government and the Troika during its forthcoming arrival in Athens for a new evaluation of the Greek economy.