Income taxes and VAT made up the difference in his receipts budget in the first two months of the year, resulting in the creation primary surplus of 3.3 billion eurosperformance significantly higher than the target.

Tax revenues reached €11.3bn, up €858m or 8.2% on target which has been included in the introductory report of the 2024 Budget.

However, part of the tax revenue concerns 2023, as it was collected until the end of February installments of ENFIA and income tax.

According to the final data announced by the Ministry of Finance:

For the period of January – February 2024, is presented surplus in the state budget balance of 1,437 million euros against a target for a surplus of 101 million euros included for the corresponding period of 2024 in the introductory report of the 2024 Budget and a surplus of 2,308 million euros for the corresponding period of 2023.

Which the primary result on an adjusted cash basis was a surplus of €3,378 million, against a target of a primary surplus of €1,981 million and a primary surplus of €4,215 million for the same period in 2023.

It is noted that most of the difference in the primary surplus against the target in cash terms is not counted in the 2024 primary result in fiscal terms.

Indicatively, an amount of 159 million euros related to revenues of the Recovery and Resilience Fund which were received in retrospect does not affect the result in fiscal terms, while a significant part of the difference in the collection of tax revenues of 647 million euros is counted in the fiscal result of the year 2023.

An additional amount of 301 million euros concerns the deferral of transfer payments that are expected to be made in the coming months.
Therefore the primary result in fiscal terms differs significantly from the result in cash terms.
In addition, it is pointed out that the above refers to the primary result of the Central Administration and not to the whole of the General Government, which also includes the fiscal results of the Legal Entities and the sub-sectors of OTAs and OKAs.

In the period January – February 2024, the amount of net revenues of the state budget amounted to 12,648 million euros, showing an increase of 1,570 million euros or 14.2% compared to the target included for the corresponding period in the introductory report of the 2024 Budget .

This increase is mainly due to:

a) to the increased tax revenue by 423 million euros after deducting refunds,
b) to the increased PDE revenues by 751 million euros,
c) to the increased income from reimbursements of expenses by 245 million euros and
d) the collection of an amount of 159 million euros from the Recovery and Resilience Fund which was predicted to be collected during the month of March 2024.

The total revenues of the state budget amounted to 13,856 million euros, increased by 2,005 million euros or 16.9% against the target.

More specifically, the revenues of the major categories of the state budget are as follows:

I. The income of the “Taxes” category amounted to 11,309 million euros, increased by 858 million euros or 8.2% against the target included in the introductory report of the 2024 Budget. This overperformance comes mainly from the better performance of the income taxes of natural and legal persons of the previous year which are collected in installments until the end of February 2024, as well as the best performance in the collection of the current year’s taxes (VAT, VAT, etc.).

Especially for the main ones taxes of this category the following are observed:

– VAT revenues amounted to 4,443 million euros and are increased against the target by 127 million euros.
– The revenues of EFCs amounted to 1,023 million euros and are increased compared to the target by 40 million euros.
– Real estate tax revenues amounted to 217 million euros and are 3 million euros short of the target.
– Income tax revenues amounted to 4,065 million euros and are increased against the target by 571 million euros, of which the Personal Income Tax is increased by 136 million euros and the Corporate Income Tax is increased by 397 million. euros against the target.

II. The income of the category “Social Contributions» amounted to 10 million euros, according to the target.

III. The income of the category “Transfers» amounted to 1,651 million euros, increased by 763 million euros compared to the target included in the introductory report of the 2024 Budget. An amount of 159 million euros was collected from the Recovery and Resilience Fund (RAF), while an amount of 1,430 million euros concerns PDE revenues, which are increased by 585 million euros compared to the target.

IV. The income of the category “Sales of goods and services» amounted to 165 million euros, increased by 18 million euros compared to the target included in the introductory report of the 2024 Budget.

V. The income of the category “Other current income» amounted to 706 million euros, increased by 350 million euros compared to the target included in the introductory report of the 2024 Budget, mainly due to the increased income from reimbursements of expenses, by 245 million euros, as mentioned above. Of the above collected amount of 706 million euros, an amount of 202 million euros concerns PDE revenues which are increased by 166 million euros compared to the target.

VI. Category income “Sales of Fixed Assets” they amounted to 15 million euros, against a target of zero.

Revenue returns totaled €1,208 million, up €435 million from the target (€773 million).

The revenues of the Public Investment Program (PIP) amounted to 1,632 million euros, increased by 751 million euros from the target (881 million euros).