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GreeceBusinessGreek state budget recorded a primary surplus of 2.116 billion euros in...

Greek state budget recorded a primary surplus of 2.116 billion euros in H1

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Greek state budget recorded a primary surplus of 2.116 billion euros in the January-June period, up compared with a budget target for a surplus of 415 million and a primary deficit of 3.425 billion euros in the same period last year, National Economy and Finance ministry said in a report on Tuesday.

More specifically, a report on budget execution in an amended cash basis showed that the general government balance recorded a deficit of 2.462 billion euros in the first half of 2023, down from a budget target for a deficit of 4.265 billion and a shortfall of 6.548 billion in the same period last year.

Net revenue was 30.875 billion euros, up 4.1% from targets, while regular budget revenue was 34.263 billion euros, up 5.5% from targets. Tax revenue amounted to 27.214 billion euros, up 8.6% from targets. VAT revenue totaled 11.042 billion euros, up 571 million from targets, special consumption tax revenue totaled 3.227 billion, down 62 million, property taxes totaled 1.567 billion, up 53 million and income tax revenue totaled 7.479 billion, up 787 million from targets.

Revenue in the transfers category totaled 4.407 billion euros, down 40 million from targets, while revenue in the sale of goods and services category totaled 441 million euros, down 1.508 billion from targets.

Tax returns totaled 3.388 billion, up 586 million from targets, while Public Investment Programme revenue was 2.183 billion euros, down 502 million from targets.

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Budget spending totaled 33.337 billion euros in the January-June period, down 596 million from targets, but up 530 million from the same period in 2022. Regular budget spending were down 654 million from targets. Public Investment Programme spending totaled 4.708 billion euros, up 58 million from targets.

In June, budget revenue was 4.623 billion euros, down 1.741 billion from targets, while regular budget revenue was 5.305 billion, down 1.614 billion from targets. Tax revenue exceeded targets by 5.8% to 4.349 billion euros, tax returns totaled 682 million (up 127 million from targets) and Public Investment Programme revenue was 231 million euros, down 744 million from targets.

SOURCE; ANA-MPA

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