Finance Ministry reports 2.5 billion euros primary surplus in January-September‏

These figures confirm the Greek government’s estimates that it was very near to achieving and surpassing the fiscal target for a primary surplus of 1.5% of GDP in 2014

According to a Finance Ministry’s report that was released on Tuesday, the general government’s primary surplus totaled 2.5 billion euros, or 1.3% of GDP in the first eight months of the year (January-August), marking an increase from a primary surplus of 1.2 billion, or 0.6% of GDP in the corresponding period in 2013.

Greece also reported a primary budget surplus of 2.5 billion euros, or 1.4% of GDP, in the January-September period, marking an increase from a medium-term program’s target of 1.5 billion euros, or 0.8% of GDP.

The ministry noted in its announcement that these figures confirm the Greek government’s estimates that it was very near to achieving and surpassing the fiscal target for a primary surplus of 1.5% of GDP in 2014, allowing the government to introduce targeted positive interventions, such as the cutting of taxes and the lowering of social insurance contributions.