ATHENS – Budget revenues from taxes in January-March 2024 exceeded expectations, totaling €14.844 billion, announced the national economy and finance minister on Tuesday.

Income taxes contributed significantly to surpassing targets, while revenues from other taxes remained close to the projected amounts. The primary surplus reached €2.987 billion, surpassing the target of €2.133 billion.

The robust collection of taxes during this period reflects a strengthening economic environment and improved compliance measures. Notably, VAT (Value Added Tax) collections, often seen as a barometer of consumer spending, also showed a healthy increase. VAT is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale.

This positive fiscal performance suggests that the government’s recent policy measures are not only effective but also supportive of the broader economic stability. Officials expressed optimism about maintaining this momentum, which is crucial for upcoming fiscal challenges and public investment plans.