Greece: Recession hits January revenues


ATHENS, Greece (AP) -- Provisional Finance Ministry figures in Greece show that its deficit in January was $652 million, with revenues remaining in line with revised targets, but weakened by falls in consumer spending and revenues from a one-off tax on businesses coming to a halt.

The ministry's General Accounting Office said Friday that January revenues were €4.87 billion ($6.48 billion), just beating revised targets, but worse than last year's figure of €5.12 billion ($6.82 billion).

It said the government was still running a primary deficit -- a net loss before including interest payments -- of €33 million in January.

Want to leave your comments?

Sign in or Register to comment.