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Thursday, August 18, 2022
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GreeceBusinessGreek budget recorded smaller primary deficit in H1

Greek budget recorded smaller primary deficit in H1

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Hellenic News of Americahttps://www.hellenicnews.com
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Greek state budget showed signs of improvement in the first half of 2022 with the primary deficit shrinking to 3.425 billion euros, from a budget target for a deficit of 4.896 billion and a primary shortfall of 9.093 billion euros in the same period last year.

Net budget revenue was 26.259 billion euros in the January-June period, up 8.6% from targets, with regular budget revenue rising 11% to 28.954 billion euros. Tax revenue totaled 24.673 billion euros, up 17% from targets. VAT revenue exceeded targets by 958 million to 9.853 billion euros, special consumption tax revenue was 3.198 billion euros, down 121 million from targets, property taxes totaled 1.664 billion euros, up 1.051 billion from tagets, income tax revenue was 6.484 billion, up 745 million from targets.

Social contribution revenue was 28 million euros, transfers totaled 2.890 billion euros, down 859 million from targets. Revenue from sales of goods and services totaled 371 million euros, up 112 million from targets, other current expenditure proceeds totaled 986 million euros, up 36 million from targets, while state property asset sales totaled 6 million euros. Tax returns amounted to 2.695 billion euros, up 799 million from targets. Public Investment Program revenue was 1.262 billion euros, down 808 million from targets.
Budget spending totaled 32.807 billion euros, up 646 million from targets, while regular budget spending fell short of targets by 368 million euros. Spending was down 1.385 billion euros compared with the same period in 2021.

In June, budget revenue was 3.972 billion euros, up 193 million from monthly targets, while regular budget revenue was 4.487 billion euros, up 419 million from targets. Tax returns was 515 million euros, up 226 million from targets, while Public Investment Program revenue totaled 156 million euros, down 344 million from targets.

SOURCE; ANA-MPA

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