Primary surplus of €2.9 bln in Jan-June
The state budget primary balance on a modified cash basis amounted to a surplus of 2.9 billion euros in the first half of 2024, against a primary surplus target of €1.204 billion and a primary surplus of €2.116 billion achieved in the first half of 2023, the National Economy and Finance Ministry announced on Monday.
According to the ministry, 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 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 is accounted for in the fiscal result of 2023.
Therefore, the primary balance in fiscal terms differs in comparison to the result in cash terms. It is pointed out that the aforementioned concerns the primary balance of the central administration and not of the whole of the general government.
