The state budget primary balance on a modified cash basis amounted to a surplus of 3,378 million euros, against the primary surplus target of 1,981 million euros, according to the finance ministry.
Tax revenues amounted to 11,309 million euros, 858 million euros or 8.2% higher against the target which is included in the 2024 budget introductory report. This overperformance is mainly due to the better performance of the previous year’s income taxes of natural and legal persons collected in installments until the end of February 2024, as well as, the better performance in the collection of the current year’s taxes (VAT, excise taxes etc.).
The state budget balance for the period of January-February of 2024 presented a surplus of 1,437 million euros, against a target of a surplus of 101 million euros that has been incorporated for the same period of 2024 in the 2024 budget introductory report and a surplus of 2,308 million euros for the same period of 2023.
The state budget primary balance on a modified cash basis amounted to a surplus of 3,378 million euros, against the primary surplus target of 1,981 million euros and the primary surplus of 4,215 million euros performed at the same period of the previous year.
SOURCE; ANA-MPA
