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GreeceBusinessGreek budget showed primary surplus of 3.555 billion euros in January-July 2023

Greek budget showed primary surplus of 3.555 billion euros in January-July 2023

Hellenic News of America
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Tax revenues in the first seven months of 2023 exceeded budget targets by 2.3 billion euros, or 7.5%, according to figures released by the national economy and finance ministry on the execution of the Greek state budget on Wednesday. The net result for the January-July period was a primary surplus of 3.555 billion euros, almost double the 2023 budget target for a primary surplus of 1.83 billion euros and up from a deficit of 1.161 billion euros in the same period in 2022.

More specifically, a report on provisional budget execution on a modified cash basis showed that the general government balance recorded a deficit of 1.438 billion euros in Jan-Jul. 2023, down from a budget target for a deficit of 2.320 billion euros and a deficit of 4.585 billion euros in the same period in 2022.

Net revenue was 37.145 billion euros, down 1.4% from budget targets, while tax revenue was 33.768 billion euros, up 7.5% from targets. About 470 million euros of this increase were a result of extending the deadline for paying vehicle circulation tax until February 2023, instead of December 2022, while the rest was from income taxes and better collection of current taxes.

SOURCE; ANA-MPA

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