Real-time gross settlement

Greece's primary surplus beats target by 3.89 bln

Greece's central government registered a primary budget surplus of 7.45 billion euros in the 11 months to November, beating its target by 3.89 billion euros thanks to higher tax revenues, Finance Ministry data showed on Wednesday.

The government's target was for a primary budget surplus - which excludes debt-servicing costs - of 3.55 billion euros for the January-November period.

Ifo Institute criticises slow pace of reform in Greece

The Ifo Institute has criticised the slow pace of reform in Greece. “The requirements of the third bailout package for Greece have only been half-heartedly implemented in the last seven months, but fresh funding is being used,” said Niklas Potrafke, Director of the Ifo Center for Public Finance and Political Economy on Monday in Munich.

Revenue target for Jan-Aug off by 11.9%

The finance ministry on Thursday reported that state revenues were off target by 11.9 percent in the January -August period, a shortfall of 4.15 billion. Total revenues stood at  30.76 billion euros.

As a “qualifier”, the finance ministry’s stated that 1.72 billion euros of the shortfall was due to the failure to transfer profits from Greek bonds from the Eurosystem.

Greece liabilities towards ECB payment system reached 2012 highs over summer

Greece’s liabilities to the euro zone’s bank payment system climbed in July to highs not seen since 2012, as fears that the SYRIZA-led country would exit the euro zone emptied bank vaults, figures announced by the European Central Bank showed on Monday.

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