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GreeceBusinessGreek budget showed primary surplus of 3.079 billion euros in Q1

Greek budget showed primary surplus of 3.079 billion euros in Q1

Hellenic News of America
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The Greek state budget recorded a primary surplus of 3.079 billion euros in the January-March period this year, from a budget target for a primary surplus of 28 million and a primary deficit of 1.650 billion euros recorded in the corresponding period in 2022, the finance ministry said on Tuesday.

More specifically, the general government balance showed a surplus of 220 million euros in the three-month period, on an amended cash basis, from a budget target for a deficit of 2.602 billion euros and a shortfall of 3.884 billion euros recorded in the same period last year. Net revenue was 16.842 billion euros, up 15.7% from targets, while regular budget revenue was 18.564 billion euros, up 16.6% from targets. Tax revenue totaled 13.609 billion euros, up 11.8% from targets, VAT revenue amounted to 5.610 billion (up 417 million from targets), special consumption tax revenue exceeded targets by 34 million to 1.522 billion euros, property taxes totaled 282 million euros (down 67 million from targets), income tax revenues totaled 4.137 billion euros (up 488 million from targets). Tax returns totaled 1.721 billion euros, up 368 million from targets, while Public Investment Budget revenue totaled 1.687 billion, up 342 million from targets.

Budget spending totaled 16.622 billion euros in the January-March period, down 542 million from targets, but up 775 million from the same period last year. Public Investment Budget spending totaled 2.029 billion euros, down 174 million from targets.

In March, budget revenue was 3.877 billion euros, up 318 million from monthly targets, while regular budget revenue was 4.814 billion, up 582 million from targets. Tax returns totaled 938 million euros, up 264 million from targets, while Public Investment Budget revenue was 271 million, down 289 million from targets.

SOURCE; ANA-MPA

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