ATHENS – The Greek state budget recorded a deficit of 11.656 billion euros in 2022, down from a budget target for a shortfall of 13.400 billion and a deficit of 14.872 billion euros in 2021, the finance ministry said in a report on Wednesday.

The state budget’s primary results showed a deficit of 6.652 billion euros, down from a budget target for a shortfall of 8.506 billion and a primary deficit of 10.327 billion euros in 2021.

Net revenue amounted to 59.623 billion euros in 2022, down 0.4% from budget targets, while regular budget revenue was 65.775 billion euros, down 0.1% from targets. More specifically, tax revenue was 55.217 billion euros, up 0.1% from targets, with VAT revenues up by 116 million, special consumption tax revenue down by 89 million, property taxes up by 165 million and income tax revenue up by 331 million from targets. Social contribution revenue was 56 million euros, up 1.0 million from targets, transfers totaled 6.357 billion euros, down 548 million from targets, sales of goods and services totaled 833 million, up 51 million from targets, while revenue from sale of fixed assets totaled 12 million euros, down 1 million from targets. Tax returns totaled 6.153 billion euros, up 159 million from targets. Public Investment Programme revenue amounted to 3.581 billion euros, down 878 million from targets.

Budget spending totaled 71.279 billione uros, down 2.7% from targets but up by 1.529 billion euros compared with 2021.

In December 2022, net revenue was 6.193 billion euros, down 519 million from monthly targets, with regular budget revenue totaling 6.794 billion euros, down 549 million from targets. Tax returns totaled 601 million, down 31 million from targets, while Public Investment Programme revenue was 713 million euros, down 801 million from targets.