State Budget net revenues amounted to 16,823 million euros for the period of January-March 2024, showing an increase of 430 million euros or 2.6% against the target of the corresponding period, which is included in the 2024 budget introductory report, according to the finance ministry.
However, the target of the budget introductory report includes the amount of 1,797 million euros from Recovery and Resilience Facility (RRF), the biggest part of it, namely 1,687 million euros, has been collected in December of 2023 and an additional amount of 159 million euros has been collected in January 2024.
Accordingly, with the exception of the above amount, the net revenues show an over performance of 2,069 million euros or 14.2% against the target. This increase is mainly due to:
a) the increased tax revenues by 612 million euros, after deducting tax refunds, and
b) the increased PIB revenues by 1,029 million euros.
Primary Surplus
According to the data available for the execution of the State Budget on a modified cash basis, the state budget balance for the period of January – March of 2024 presented a deficit of 44 million euros, against a target of a deficit of 817 million euros that has been incorporated for the same period of 2024 in the 2024 budget introductory report and a surplus of 220 million euros for the same period of 2023. The state budget primary balance on a modified cash basis amounted to a surplus of 2,987 million euros, against the primary surplus target of 2,133 million euros and the primary surplus of 3,079 million euros performed at the same period of the previous year. It is noted that the biggest part of the difference in the primary balance surplus against the target, in cash terms, is not counted in the 2024 primary balance in fiscal terms. Indicatively, 159 million euros relating to the Recovery and Resilience Facility revenues (RRF), do not affect the outcome in fiscal terms, while a significant part of the difference in tax revenues of 647 million euros, is accounted for, in the fiscal result of 2023. Therefore, the primary balance in fiscal terms differs significantly in comparison to the result in cash terms. Furthermore, it is pointed out that the aforementioned concerns the primary balance of the central administration and not of the whole of the general government, which also includes the fiscal results of legal entities and the sub-sectors of LGs and SSFs.
Net Revenues
For the period of January-March 2024, state budget net revenues amounted to 16,823 million euros, showing an increase of 430 million euros or 2.6% against the target of the corresponding period, which is included in the 2024 budget introductory report.
