The budget shows a primary surplus of 5,854 million euros, against a target of 3,771 million euros, in the 11th month, according to the provisional data of the Ministry of Finance. The most important part of the difference is due to the deferred payment of expenses, which appear reduced by 1,775 million euros against the target.

In the period January – November 2023, the amount of net revenues of the state budget amounted to 59,190 million euros, presenting an increase of 223 million euros compared to the target included for the corresponding period in the introductory report of the 2024 Budget.

Tax revenues amounted to €56,197 million, up by €605 million or 1.1% compared to the target included in the Budget 2024 report. Revenue refunds amounted to €6,267 million, up by €133 million. euros from the target (6,134 million euros).

The revenue of the Public Investment Budget (PDE) amounted to 2,933 million euros, reduced by 361 million euros from the target (3,294 million euros).

The exact distribution between the revenue categories of the state budget will be carried out with the publication of the final bulletin.

In particular, in November 2023 the total net revenues of the state budget amounted to 5,266 million euros, increased by 173 million euros compared to the monthly target. Tax revenues amounted to €5,480 million, up by €571 million or 11.6% compared to the target included in the 2024 Budget report. Revenue refunds amounted to €718 million, up by €133 million. euros from the target (584 million euros). The revenue of the Public Investment Budget (PDE) amounted to 123 million euros, reduced by 363 million euros from the target (486 million euros).

The expenses

The expenses of the State Budget for the period January – November 2023 amounted to 60,194 million euros and are presented reduced by 1,775 million euros compared to the target (61,969 million euros), which is included in the introductory report of the 2024 Budget. They are also increased , in relation to the corresponding period of 2022, by 1,116 million euros, mainly due to increased interest expenses by 2,291 million euros, taking into account countervailing changes in other categories of expenses.

In the section of the Regular Budget, payments are shown reduced compared to the target by 1,270 million euros. This development is mainly due to the postponement of the cash payments of the equipment programs of the Ministry of National Defense by 568 million euros, as well as the postponement of the consumption of the appropriations under allocation.

Notable payments include: the grant to the Information Society M.A.E. in the amount of 786 million euros, to serve the needs of the Market Pass and its extension, the return to the Energy Transition Fund of 367 million euros of surplus energy producers, for the period from October 1, 2021 to June 30, 2022, as well as this year’s Diesel heating subsidy payments of €100 million. All the aforementioned payments were covered by redistributing appropriations from the reserve to promote actions to tackle the energy crisis (appropriations under allocation).

Payments in the investment expenditure arm amounted to 8,586 million euros, showing a decrease of 504 million euros in relation to the target. The expenditure of the PDE includes an amount of 124 million euros to service Covid-19 measures, with the most important of these, the reinforcement of health institutions with auxiliary staff to respond to the needs due to the Covid-19 pandemic in the Regions, the support of start-ups in the framework of Elevate Greece, the creation of a network of nurses for the collection of samples of biological material and nursing assistance in suspected cases of coronavirus at home and the grant of existing small and medium-sized enterprises in the retail sector, which maintain a physical store, for the development, upgrading and management online store.

The Ministry of National Economy and Finance clarifies that most of the deviation from the target is due to the delayed payment of expenses between months, which appear reduced by 1,775 million euros compared to the target in November and are expected to increase significantly in December.

Specifically, 1,270 million euros is due to the deferral of payments of the regular Budget, mainly due to the deferral of payments of the equipment programs of the Ministry of National Defense by 568 million euros, as well as the consumption of appropriations under allocation. The expenditure of the Public Investment Program appears reduced by 504 million euros compared to the target, however it is expected to be spent during the month of December.

With reference to revenues, the amount of net revenues of the state budget during the eleven months of January to November 2023 shows an increase of 223 million euros compared to the target. Net income from taxes after refunds appears increased in the eleventh month by 472 million euros, while revenues from the Public Investment Program appear reduced by 361 million euros compared to the target.