Greek Jan-March primary budget surplus at 1.46 bn euros, well above target

ATHENS: Greece's central government achieved a primary budget surplus of 1.46 billion euros ($1.65 billion) in the first three months of the year, well above target, thanks to higher revenues and lower spending, finance ministry data showed on Monday.

The government was targeting a primary budget deficit - which excludes debt-servicing costs - of 0.96 billion euros for the January-March period, meaning the surplus outperformed the target by 2.42 billion euros.

The central government surplus excludes the budgets of social security funds and local administration. It differs from the figure monitored by Greece's foreign lenders but does indicate the state of the country's finances.