Perform a comparative study of performance between the two countries and explain the reasons for the similarity/difference based on the financial statements .
Greece State: Revenue and Expenditure account in million Euro 2008 2009 2010 48,105 30.749 5,289 4,636 5,680 94,459 45,745 29.458 4,803 2.713 4,848 87,567 46,275 29,663 4,636 4,357 5,002 89,933 Government revenue and expenditure Revenue Taxes Social contributions Sales Capital revenue Other current revenue Total Revenue Expenditure Intermediate consumption Compensation of employees Interest Subsidies Capital transfers payable Capital investments Social benefits Other current expenditure Total expenditure Government deficit Resource: (Eurostat, 2011) 17,228 30.559 12.328 76 4,084 15,283 27,668 11,750 43 4,121 8,891 45,765 4,113 117,634 -23,175 7,463 13,333 27,183 12,594 93 2.802 6,367 47,400 3,905 113,667 -23,734 48.844 3,669 124,251 -36,684 Turkey State: Revenue/Expenditure (million TL) 2010 27,916 220,996 45,979 73 36,866 31,499 2,583 337,996 Government revenue and expenditure 2008 2009 Revenue Taxes 173,780 179,008 Social contributions 32,799 40,629 Capital revenue 13 101 Interest, Shares and Fines 25.770 Revenues from value and volume changes 46.152 28,584 Other current revenue 1,632 2,219 Total Revenue 282,292 276,311 Expenditure Intermediate consumption 38.907 41.984 Compensation of employees 56,883, 65,007 Interest 59,610 51.652 Subsidies 10,476 Capital transfers payable 4,713 5,578 Capital investments 67,955 28,001 Social benefits 61,431 91,920 Receivables from the deleted spending 93,764 272 Other current expenditure 14,634 12,118 Total expenditure 349,213 307,008 Government deficit - 66,921 - 30,697 Resource: (Ministry of Finance General Directorate of Public Accounts, 2011) 8,199 44,370 73,008 46,971 11,136 8,877 32.909 99,125 367 7,994 324,390 -10,606 Greece Government Balance Sheet (in million Euro) CURRENT ASSETS Liquid Assets Marketable Securities Receivables Other Current Assets LIABILITIES Short Term Ltabilities Short Financial Liabilities Short Trade Payables Other Short Term Liabilities Long Term Liabilities Long Financial Liabilities Long Trade Payables Other Long Term Liabilities Resource: (Eurostat, 2011) 2008 64,431 13,204 29,958 1,591 19,678 275,514 6,516 5,496 292 728 268,998 210,828 44,974 13.196 2009 72,908 11,841 40.498 1,262 19,307 313,573 13,841 10.820 1,513 1,508 299,732 242,103 42,793 14,836 2010 76,185 16,592 38,272 1.213 20.108 343,686 12,882 9,121 2,756 1,005 330,804 243,352 72,354 15,098 Turkish Government Balance Sheet in million TL 2008 2009 2010 CURRENT ASSETS 134,334 142,176 190,744 Liquid Assets 56,295 43,778 20,457 Marketable Securities 25,605 24,068 30,089 Receivables 49,010 59.322 85,756 Other Current Assets 13,424 15.008 Ara 66 LIABILITIES 281,953 341,869 370,227 Short Term Liabilities 89,392 140,798 110,890 Short Financial Liabilities 81.811 128,967 95.199 Short Trade Payables 7,714 11,753 15,622 Other Short Term 67 78 69 Liabilities Long Term Liabilities 192,361 201,071 259,337 Long Financial Liabilities 192.287 200,991 259,265 Long Trade Payables 7 2 3 Other Long Term Liabilities 67 78 69 Resource: (Ministry of Finance General Directorate of Public Accounts, 2011)
