Greece’s four-month budget deficit narrows

Telco

Greece’s budget deficit narrowed 74% in the first four 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 April, which excludes spending by state-controlled enterprises, shrank to €2.4 billion ($3.1 billion) from €9.1 billion a year earlier, according to preliminary data from the Greek Finance Ministry. The target was for a €5.7 billion deficit. Net revenue dropped 2.6% to €15.7 billion in the January to April period. Spending dropped to €18.2 billion from €25.3 billion.

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