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Greek Jan-Sept budget gap narrows, revenue still below target

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ATHENS, Oct 11 (Reuters) - Greece's budget deficit narrowedby 37 percent year-on-year between January and September, helpedby cuts in public spending and investment, the finance ministrysaid on Thursday.

The shortfall narrowed to 12.6 billion euros ($16.3 billion)from 20.1 billion in the same period last year.

But tax revenues fell short of targets due to the country'ssevere, austerity-fuelled recession. Despite a tax onslaught,net government revenue stagnated at 36.7 billion euros, 1.3billion euros less than an interim target for the period set outunder the country's EU/IMF bailout plan.

Unlike the general government budget gap, which the EuropeanUnion uses to assess Greece's fiscal performance, the centralgovernment budget deficit data excludes local authorities andsocial security spending.($1 = 0.7751 euros)

(Reporting by Harry Papachristou)

((harry.Papachristou@thomsonreuters.com; +30 210 33 76 455 or+30 6949 440 106; Reuters Messaging:harry.papachristou@thomsonreuters.com@reuters.net))

Keywords: GREEK BUDGET/

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