Greece’s Five-Month Budget Deficit Narrows 64%, Beats Target
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Greece’s budget deficit narrowed 64 percent in the first five months of the year, beating a target set for the period as reduced spending offset lower revenue.
The central government’s deficit for January to May, which excludes spending by state-controlled enterprises, shrank to 3.9 billion euros ($5.2 billion) from 10.9 billion euros a year earlier, according to preliminary data from the Athens-based Finance Ministry. The target was for a 7.1 billion-euro deficit. The primary deficit, which excludes debt service payments, declined to 984 million euros from 2.3 billion euros a year earlier.