Fiscal leeway of €3 bln on increased revenues
The state budget primary balance amounted to a surplus of 2.44 billion euros for the January-April 2023 period, against a primary deficit target of €869 million and a primary deficit of €799 million in the same period last year.
Tax revenues amounted to €17.8 billion – i.e. €1.57 billion or 9.7% higher than the target included in the 2023 budget introductory report. According to the data available for the execution of the state budget on a modified cash basis, the balance for the year’s first four months showed a deficit of €789 million, against a target for a deficit of €3.83 billion in the 2023 budget, and a deficit of €3.31 billion for the same period of 2022. This entails fiscal leeway of over €3 billion in just four months.
The primary balance amounted to a surplus of €2.443 billion, as net revenues amounted to €21.06 billion, showing an overperformance of €2.51 billion or 13.5% against the target of the corresponding period, which is included in the 2023 budget introductory report.
This increase is mainly thanks to the increased four-month tax revenues, the collection of €603 million euros from ANFAs, that was not projected in the 2023 budget introductory report, and the increased revenues of the Public Investments Program.
