The state-sector borrowing requirement account for the month of October 2011, on a provisional basis, amounted to around 1,900 million euros, down by about 5,650 million compared to the October 2010 figure which was 7,550 million.
The overall borrowing requirement in the first ten months of 2011 approximated 60,800 million, down by some 12,300 million, when compared to the figure referable to the same period in 2010, of 73,061 million. On a like-for-like basis, net of the loan for supporting Greece financially, which in the first ten months of 2011 approximated 5,000 million, compared to about 4,000 million in the same period last year, the 2011 borrowing requirement has improved by about 13,300 million.
The estimated borrowing for the current year, of 64,800 million, is about 2,300 million less than the 2010 balance; with this current trend, the closing at year-end is confidently expected to be lower than the 2011 objective, which is to be put down to a revenue trend in line with forecasts and more contained expenditure dynamics compared to last year.
Comment
Accounting for the October 2011 balance is the following: on the revenue side, the positive trend in revenue, which is in line with what has been recorded in previous months and, the incoming amount of around 2,850 million, net of instalments, relating to frequency allocation fees; on the payments side, more contained expenditure dynamics compared to October last year.