Greek state budget surpasses targets with €8.7 bln primary surplus for Jan-Sept 2024

The state budget’s primary surplus reached €8.735 billion from January to September 2024, significantly exceeding the target of €5.297 billion, according to a Friday announcement by the Ministry of National Economy and Finance.

Tax revenues also outperformed expectations, rising by €2.494 billion, or 5.4%, above the target of €48.867 billion.

Based on modified cash data for January-September 2024, the state budget showed a surplus of €1.568 billion, contrasting with the targeted deficit of €1.443 billion outlined in the 2024 Budget’s introductory report, and a deficit of €397 million recorded during the same period in 2023. The primary surplus on a modified cash basis was €8.735 billion, surpassing the target of €5.297 billion and improving on the €5.987 billion primary surplus from the same period in 2023.

It is noted that €647 million of the tax revenue surplus will be accounted for in the fiscal results for 2023. [AMNA]