The Greek state budget showed a surplus of 165 million euros in January 2011, down from a surplus of 578 million euros in the same month last year, the finance ministry announced on Tuesday.

In a report, the ministry said January figures confirmed its forecasts over the trend of proceeds and spending for the month, as included in the budget report for 2011. Net regular budget revenues fell 9 pct, reflecting the no-repeat of car registration duties by 393 million euros (last year the government offered a one-month extension) and lower extra tax charge on profitable enterprises (by 551 million euros).

Regular budget spending fell 2.5 pct, with primary spending down 2.6 pct and spending on interest falling 2.2 pct. Public Investment Program’s revenues were down 63.3 pct and spending fell 14.7 pct in January. The figures cover only execution of state budget and not total fiscal figures.