Positive news about Greece’s economy continues, with the country’s government achieving a primary budget surplus of €2.334 billion from January through to April this year, beating its target.
The target was set at €374 million, meaning the surplus outperformed by €1.96 billion, reports Reuters.
The data was release on Monday by Greece’s Ministry of Finance, with the positive figures attributed to the Tsipras-led government introducing higher tax revenues, and lower spending.
Greece’s net tax revenue was €14.42 billion – €689 million above the target.
State budget spending came in at €15.32 billion, €751 million below the target, while regular budget spending came to €14.819 billion, €195 million below target.
According to the country’s overall 2018 budget, the primary budget surplus is being projected at 3.8 per cent for the whole year.
While the central government surplus differs to the numbers monitored by EU and IMF lenders, it remains to be a reliable indicator of the country’s finances.
If projections come to fruition, Greece will find itself in better financial stead, given the bailout target stands at 3.5 per cent of GDP.