Greek budget records surplus in Jan., BoG

The central government reported a surplus of 352 million euros (cash flow) in January, the Bank of Greece announced on Monday, after a deficit of 818 million euros in the corresponding month last year.

The central bank, in a report, attributed this positive development to an increase of regular budget revenues to 4.9 billion euros, from 4.2 billion euros in 2010 (an increase of 16 pct) and lower budget spending, 4.2 billion euros this year from 4.3 billion euros in 2010, a decline of 3.0 pct.

The public investments programme recorded a deficit of 206 million euros in January, from a surplus of 129 million last year, while interest payment totaled 579 million euros, down from 590 million euros last year.

The Greek budget recorded a primary surplus of 924 million euros after a shortfall of 20 million euros in January 2010.