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Economy

Greek State Budget Records Primary Surplus in January

February 25, 2022

ATHENS – Greek state budget recorded a primary surplus of 15 million euros in January from a budget target for a deficit of 1.145 billion and a primary deficit of 1.473 billion euros in January 2021, the Finance ministry said in a report on Friday.

The state budget showed a deficit of 1.199 billion euros in an amended cash basis in January, down from a budget target for a shortfall of 2.243 billion and a deficit of 1.561 billion euros last year. Net revenue was 3.855 billion euros, down 13.7% from targets, reflecting lower proceeds from taxes and the Public Investment Programme. Regular budget revenue was 4.087 billion euros, down 14% from targets. More specifically, VAT revenue was 1.526 billion euros, down 212 million from monthly targets, special consumption taxes totaled 503 million euros, down 65 million from targets, property taxes totaled 220 million euros, down 4 million from targets, while income tax revenue met targets at 1.150 billion euros.

Tax returns totaled 232 million euros, down 54 million from targets, while Public Investment Programme revenue was 67 million euros, down 358 million from targets.

Budget spending amounted to 5.054 billion euros, down 1.654 billion from targets and down 355 million euros compared with January 2021.

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