Greek local authorities record cash surplus in first two months of 2013

The integrated local administration budget presented a cash surplus of 362.3 million euros in the first two months of 2013, Greek Interior Minister Evripidis Stylianidis stated yesterday.

According to AMNA, he clarified that "the counterbalancing of public spending, the introduced spending cuts, and the increase in municipal revenues from sources other than state coffers created a surplus of 362.3 million euros in the first two months of 2013, further reinforcing the economic independence of Local Administration Organizations (OTA)." 

Particularly, the surplus in February 2013 reached 180.1 million euros, while a satisfactory collection of revenues and spending cuts implemented in compliance with the 2013-2016 Medium-Term Fiscal Strategy, are continuing. 

"The new reality created in local administration on a daily basis as a result of systematic work and cooperation lays the foundations for a new model, free from past dependencies. This will give a greater economic and administrative independence to municipalities and regions," Stylianidis said. 

The cash surplus recorded was the result of increased revenues from municipal taxes and fees - given that state budget subsidies have been considerably reduced (12 pct) compared with the first two months of 2012 - and a 13 pct reduction in spending compared with the same period in 2012. 

Source: capital.gr