Greek budget showed a primary surplus of 2.166 billion euros in Jan-June

The Greek state budget recorded a primary surplus of 2.166 billion euros in the January-June 2023 period, up from a budget target for a surplus of 415 million and a primary deficit of 3.425 billion euros in the same period last year, the finance ministry said on Monday.

More specifically, a report on provisional budget execution data, on an amended cash basis, said the general government balance showed a deficit of 2.467 billion euros in the six-month period, down from a budget target for a deficit of 4.265 billion and a deficit of 6.548 billion euros in the corresponding period last year.

Net revenue was 30.870 billion euros, up 4.1% from targets, reflecting higher tax revenue and the collection of 603 million euros from ANFAs. Tax revenue was 27.301 billion euros, up 8.9% from targets, tax returns totaled 3.389 billion euros, up 586 million from targets, while Public Investment Programme revenue was 2.183 billion, down 502 million from targets.

Budget spending in the January-June period was 33.337 billion euros, down 596 million from targets, but up 530 million from the same period last year due to higher interest payment. Regular budget spending was down 654 million from targets. Public Investment Programme spending totaled 4.708 billion, up 58 million from targets.

In June, net revenue was 4.619 billion euros, down 1.746 billion from monthly targets, with tax revenue up 7.9% to 4.436 billion euros. Tax returns totaled 682 million, up 127 million from targets and Public Investment Programme revenue was 231 million in June, down 744 million from targets.