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Economy

Higher Than Expected Tax Revenue in January – July 2022

ATHENS – Tax revenues in the period January – July 2022 significantly exceeded the target, according to the provisional data on the execution of the state budget announced οn Tuesday by the Finance Ministry.

More specifically, the target was exceeded by 5.1 billion euros, with total tax revenues during this period amounting to 31.094 billion euros, an increase of 19.9 pct compared to the target included in the introductory report of the 2022 budget.

Exceeding the revenue target for July was also particularly important. Specifically, revenues were higher by 1.582 billion euros reaching a total of 6.421 billion euros, with an increase over the target by 32.7 pct.

Commenting on this positive development in the course of revenues, Alternate Finance Minister Theodoros Skylakakis referred to the resilience shown by the Greek economy despite the enormous external pressures.

“The good course of public revenues continued in July. It is intertwined with the resistance shown by the Greek economy to the enormous external pressures it has faced over the last years. Particularly significant is the massive return of almost one-third of the refundable advance by small and medium-sized enterprises … This massive return proves that something has started to change in the business model of small and medium-sized enterprises.”

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