A surplus of 2.188 billion euros in the state budget balance was recorded in the period January – July 2025, compared to the target for a deficit of 1.961 billion euros that has been incorporated for the same period of 2025 in the 2025 Budget introductory report and a deficit of 139 million euros in the corresponding period of 2024, according to the preliminary data announced by the Ministry of Finance.
Tax revenues amounted to 40.556 billion euros, 2.273 billion euros or 5.9% higher against the target. This overperformance is due to the better performance in collecting the current year’s taxes, as well as, the better performance of the previous year’s income taxes collected in installments until the end of February 2025.
More specifically, the State Budget balance for the period of January – July of 2025 presented a surplus of 2.188 billion euros, against the target of a deficit of 1.961 billion euros that has been incorporated for the same period of 2025 in the 2025 Budget introductory report and a deficit of 139 million euros for the same period of 2024.
The State Budget Primary Balance on a modified cash basis amounted to a surplus of 7.959 billion euros, against the primary surplus target of 3.599 billion euros and the primary surplus of 5.665 billion euros performed at the same period of the previous year. It is noted that an amount of 2.208 billion euros which refers to the time differentiation of ordinary budget transfers and an amount of 605 million euros which refers to the time differentiation of military procurement, do not affect the General Government outcome in fiscal terms. In addition, an amount of 342 million euros in tax revenues from the first two months is fiscally accounted for in the year 2024. Excluding the aforementioned amounts, the surplus in the primary result on a modified cash basis, compared to the budget targets, is estimated at 1.203 billion euros.
