Tax revenues between January and May 2024 show a significant increase compared to the target, according to the state budget execution data, on a modified cash basis, announced by the Ministry of National Economy and Finance.

Specifically, tax revenues amounted to 24.827 billion euros, increased by 1.443 billion euros or 6.2% compared to the target included in the introductory report of the 2024 Budget.

This overperformance comes from the better performance of the income taxes of natural and legal persons of the previous year that were collected in installments until the end of February 2024 (it is noted that an estimated amount of 647 million euros is included in the fiscal result of the year 2023), as well as the better performance in the collection of the current year’s taxes (VAT, VAT, etc.).

As noted in the relevant announcement, according to the provisional data on the execution of the state budget, on a modified cash basis, for the period January – May 2024, there is a deficit in the balance of the state budget of 580 million euros against a target for a deficit of 2,728 million euros which has been included for the corresponding period of 2024 in the introductory report of the 2024 Budget and a deficit of 1,116 million euros for the corresponding period of 2023.

The primary result on an adjusted cash basis was a surplus of 3,152 million euros, against a target of a primary surplus of 802 million euros and a primary surplus of 2,300 million euros for the same period in 2023. It is noted that part of the difference of the primary surplus against target in cash terms does not count towards the primary result of 2024 in fiscal terms. Indicatively, an amount of 159 million euros relating to revenues from the Recovery and Resilience Fund does not affect the result in fiscal terms, while a significant part of the difference in tax revenue collections of 647 million euros is counted in the fiscal result of the year 2023. Therefore the primary result in fiscal terms differs from the result in cash terms. It should be noted 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 Legal Entities and the sub-sectors of OTAs and OKAs.

In the period January – May 2024, the amount of net revenues of the state budget amounted to 26,838 million euros, presenting an increase of 1,426 million euros or 5.6% compared to the target included for the corresponding period in the introductory report of the 2024 Budget , although the reporting target included the collection in March of an amount of 1,797 million euros from the Recovery and Resilience Fund (RAF), the majority of which, i.e. 1,687 million euros, had been collected in December 2023 and an additional amount of €159 million was collected in January 2024.

Excluding the above amount, net income shows an increase of 3,064 million euros or 13% compared to the target. This increase is mainly due to: a) increased tax revenues by 1,501 million euros after deduction of refunds and b) increased PDE revenues by 1,049 million euros.

Tax revenues amounted to 24,827 million euros, increased by 1,443 million euros or 6.2% compared to the target included in the introductory report of the Budget 2024. This overperformance comes from the better performance of personal and corporate income taxes of the previous year that were collected in installments until the end of February 2024 (it is noted that an estimated amount of 647 million euros is counted in the fiscal result of the year 2023), as well as the best performance in the collection of taxes of the current year (VAT, VAT, etc. ).

Revenue returns amounted to €2,612 million, down €58 million from the target (€2,671 million).

The revenues of the Public Investment Program (PIP) amounted to 2,533 million euros, increased by 1,049 million euros from the target (1,484 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 May 2024 the total net revenue of the state budget amounted to 4,300 million euros, reduced by 914 million euros compared to the monthly target due to the fact that the collection in May of the first reinforced installment was included in the target setting of the report of ENFIA, in the amount of 940 million euros, which was collected during the month of April 2024 (collection amount of 903 million euros).

Tax revenues amounted to 4,583 million euros, down by 636 million euros or 12.2% against the target due to the non-collection of the first installment of ENFIA in the month of May, as predicted, but in the month of April, as mentioned above .

Revenue returns amounted to €464 million, down €106 million from the target (€571 million).

The revenues of the Public Investment Budget (PDE) amounted to 28 million euros, reduced by 102 million euros from the target (130 million euros).

The expenses of the State Budget for the period January – May 2024 amounted to 27,418 million euros and are presented reduced by 723 million euros compared to the target (28,141 million euros), which is included in the introductory report of the 2024 Budget. They are also increased , in relation to the corresponding period of 2023, by 50 million euros.

In the section of the Regular Budget, the payments are shown reduced compared to the target by 1,127 million euros. This development is mainly due to the deferral of transfer payments to OKA by 845 million euros. In contrast, i.e. incrementally in relation to the target, interest payments moved by 230 million euros and transfers to other legal entities by 307 million euros. More specifically, 110 million euros were paid by the Ministry of Rural Development and Food to ELGA, for the compensation of agricultural holdings affected by flooding due to the DANIEL-ELIAS disasters of September 2023, 134 million euros from the Ministry of Infrastructure and Transport as a grant to transportation agencies (OASA, OASTH and OSE) and 138 million euros from the Ministry of Health as a grant to the National Central Authority for Health Supplies (EKAPY) to cover the cost of supplying medicines for the needs of the hospitals of the National Health Service and the General Hospital. Papageorgiou.

Payments in the investment expenditure segment amounted to 4,413 million euros, showing an increase of 404 million euros in relation to the target, as the target was exceeded in the PDE.