Major improvement in budget figures over H1
The Greek state budget showed signs of improvement in the first half of 2022, with the primary deficit shrinking to 3.425 billion euros, from a budget target for a deficit of €4.896 billion and a primary shortfall of €9.09 billion in the same period last year.
Net budget revenue was €26.26 billion euros in January-June, up 8.6% from targets, with regular budget revenue rising 11% to €28.95 billion. Tax revenue totaled €24.67 billion, up 17% from targets.
VAT revenue exceeded targets by €958 million to €9.85 billion, special consumption tax revenue was €3.2 billion, down €121 million from targets, property taxes totaled €1.66 billion, up €1.05 billion on targets, and income tax revenue was €6.48 billion, up €745 million from targets.
Social security contribution revenue was €28 million, transfers totaled €2.89 billion, down €859 million from targets.
Revenue from sales of goods and services totaled €371 million, beating its target by €112 million, other current expenditure proceeds totaled €986 million, up €36 million from targets, while state property asset sales totaled €6 million.
Tax rebates amounted to €2.7 billion, up €799 million from targets. Public Investment Program revenue was €1.26 billion, down €808 million. Budget spending totaled €32.81 billion, up €646 million from targets, while the regular budget spending fell short of targets by €368 million.
Spending was down €1.385 billion compared with the same period in 2021.
In June, budget revenue was €3.97 billion, up €193 million from monthly targets, while regular budget revenue was €4.49 billion, up €419 million. Tax rebates reached €515 million, up €226 million from targets, while Public Investment Program revenue totaled €156 million, down €344 million from targets.
