A Finance ministry announcement released on Wednesday reported a primary budget surplus of 2.3 billion euros in the first 7 months of 2014, up compared with a budget target for a primary surplus of 800 million euros for the period.

The announcement said that according to provisional data on budget execution, on an amended cash basis, the state budget recorded a deficit of 1.8 billion euros in the first seven months of the year, from a deficit of 1.9 billion euros last year, down from a revised budget target for a deficit of 3.4 billion euros.

Net state budget revenues totalled 29.5 billion euros in the Jan-July period, up 2.3% from a revised budget target, while regular budget net revenues totalled 26.2 billion euros, up 1.8% from revised targets.

Public Investment Program revenues totalled approximately 3 billion euros in the January-July period, up 195 million euros compared with targets.