Excess revenues to go to projects

The government will try to reduce the losses from the European Union-financed National Strategic Reference Framework (NSRF) of 2014-2020 to the minimum possible, according to sources, utilizing the excess revenues resulting from the execution of the budget in November.

At the end of this year, the deadline for absorption of funds from this NSRF expires, and the agencies of the Ministry of National Economy and Finance are trying to include projects until the last moment, which, however, also require the corresponding national participation.

This purpose will be served, Kathimerini understands, by the excess of net revenues of the January-November period, which was 223 million euros, according to the latest budget execution data relayed on Monday. However, some losses cannot be ruled out, given that until Monday the absorption rate was 95%.

It is noted that NSRF 2014-2020 had a public expenditure budget of €23.5 billion, therefore approximately €1.2 billion euros have not been absorbed. The infrastructure, transport and environment program appeared to have one of the lowest absorption rates.

The 2023 general government budget will close with a primary surplus of 1.1% of gross domestic product – i.e. as much as the target included in the introductory report of the 2024 budget – the ministry estimates. According to the provisional January-November state budget execution data published on Monday, net revenue amounted to €59.19 billion, showing an increase of €223 million compared to the target of the 2024 budget report.

Tax revenues totaled €56.197 billion, up €605 million or 1.1% on the target. It should be noted that in November alone tax revenues were increased by €571 million compared to the target.

State budget expenditures for the same period amounted to €60.194 billion, €1.775 billion less than the target. Therefore, the deficit in the balance of the state budget in January-November was €1.004 billion, against a target for a deficit of €3.001 billion.