State budget revenues in the first quarter of the year were above the target of the economic staff and reached 26.9 billion euros. The increase is mainly attributed to increased tax revenues and increased PDE revenues by 1,096 million euros.

In particular, according to the execution data of the state budget, on a modified cash basis, for the period January – May 2024, it is presented a deficit in the state budget balance of 535 million euros against a target for a deficit of 2,728 million euros 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 a modified cash basis was a surplus of 3,197 million euros , against a target for a primary surplus of €802 million and a primary surplus of €2,300 million for the same period in 2023. It is noted that part 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 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 26,884 million euros, showing an increase of 1,472 million euros or 5.8% compared to the target included for the corresponding period in the introductory report of the Budget 2024, although the location of the introductory report had included the collection in the month of March amounting to €1,797 million from the Recovery and Resilience Fund (REF), most of which, amounting to €1,687 million, was received in December 2023 and an additional amount of €159 million was received in January 2024.

Excluding the above amount, net income shows an increase of 3,110 million euros or 13.2% compared to the target. This increase is mainly due to: a) to the increased tax revenues by 1,389 million euros after deducting the refunds and b) to the increased PDE revenues by 1,096 million euros.

The total revenues of the state budget amounted to 29,497 million eurosincreased by 1,414 million euros or 5.0% against the target.

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

1. The revenues of the “Taxes” category amounted to 24,715 million euros, increased by 1,331 million euros or 5.7% compared to the target included in the introductory report of the 2024 Budget. This overperformance comes mainly from: a) collection of two installments of ENFIA 2024 (April and May) totaling 1,150 million euros against a forecast amount of 982 million euros for the two months, since it was predicted that the first installment would be collected in May and b) from the better performance of income taxes natural and legal persons of the previous year 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 , EFK etc.).

In particular, the following are observed for the main taxes of this category:

  • VAT revenues amounted to 10,187 million euros and are increased against the target by 296 million euros.
  • The revenues of the tax authorities amounted to 2,714 million euros and are increased against the target by 72 million euros.
  • Real estate tax revenues amounted to 1,414 million euros and are increased against the target by 147 million euros, due to the collection of two installments of the ENFIA, instead of one, as was foreseen.
  • Income tax revenues amounted to 7,434 million euros and are increased against the target by 754 million euros, of which Personal Income Tax is increased by 153 million euros, Corporate Income Tax is increased by 499 million euros and Other Income Taxes increased by 102 million euros against the target.

2. The revenues of the “Social Contributions” category amounted to 25 million euros, in accordance with the target.

3. The revenues of the “Transfers” category amounted to 2,761 million euros, reduced by 550 million euros compared to the target included in the introductory report of the 2024 Budget mainly due to: (a) the collection in December 2023 of the amount of 1,687 million euros from the Recovery and Resilience Fund (Recovery and Resilience Fund), while an amount of 159 million euros was collected in January 2024, against a target of 1,797 million euros that was initially predicted to be collected in the month of March 2024 and (b) of the increased PDE revenues, by 961 million euros, against the target. In particular, of the above collected amount of 2,761 million euros, an amount of 2,374 million euros concerns PDE revenues.

4. The revenues of the “Sales of goods and services” category amounted to 406 million euros, increased by 17 million euros compared to the target included in the introductory report of the 2024 Budget.

5. The income of the category “Other current income” amounted to 1,567 million euros, increased by 592 million euros compared to the target included in the introductory report of the Budget 2024, mainly due to the increased income from reimbursements of expenses, by 168 million. euros as well as from the collection of interest on deposits from the Bank of Greece, Q1 2024, amounting to 196 million euros, which were expected to be collected at the end of the semester. Of the above collected amount of 1,567 million euros, an amount of 206 million euros concerns PDE revenues which are increased by 134 million euros compared to the target.

6. The revenue of the category “Sales of fixed assets” amounted to 23 million euros, against a zero target.

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

The total revenues of the Public Investment Program (PIP) amounted to 2,580 million euros, increased by 1,096 million euros from the target (1,484 million euros).

In particular, in May 2024 the total net revenues of the state budget amounted to 4,347 million euros, reduced by 868 million euros compared to the monthly target, due to the fact that the collection in the month of May of the first reinforced installment of ENFIA, amounting to 940 million euros, which was collected during the month of April 2024 (collection amount of 903 million euros).

More specifically, the revenues per major category of the state budget for May 2024 are as follows:

1. The revenues of the “Taxes” category amounted to 4,471 million euros, reduced by 748 million euros or 14.3% against the target, due to the non-collection of the first installment of ENFIA in the month of May, as predicted, but by in the month of April, as mentioned above.

In particular, the following are observed for the main taxes of this category:

  • VAT revenues amounted to 2,016 million euros and are increased against the target by 81 million euros.
  • The revenues of the EFCs amounted to 599 million euros and are reduced compared to the target by 4 million euros.
  • Real estate tax revenues amounted to 249 million euros and are short of the target of 695 million euros, due to the collection of the first enhanced tranche of ENFIA in the month of April, instead of the month of May, as predicted.
  • Income tax revenues amounted to 1,188 million euros and are short of the target by 49 million euros.

2. The revenues of the “Social Contributions” category amounted to 5 million euros, in accordance with the target.

3. The revenues of the “Transfers” category amounted to 98 million euros, reduced by 34 million euros against the target included in the introductory report of the 2024 Budget. An amount of 73 million euros concerns PDE revenues, which are reduced by 45 million euros against the target.

4. The revenues of the “Sales of goods and services” category amounted to 64 million euros, reduced by 25 million euros compared to the target included in the introductory report of the 2024 Budget.

5. The income of the category “Other current income” amounted to 167 million euros, reduced by 175 million euros compared to the target included in the introductory report of the Budget 2024, mainly due to the delay of the income from reimbursements of expenses by 122 million. euros compared to the target. An amount of 2 million euros concerns PDE revenues, which are reduced by 11 million euros compared to the target.

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

The total revenue of the Public Investment Budget (PDE) amounted to 74 million euros, reduced by 56 million euros compared to the target (130 million euros).

The expenses of the State Budget for the period January – May 2024 amounted to 27,419 million euros and are presented reduced by 721 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 52 million euros.

In the section of the Regular Budget, the payments are shown reduced compared to the target by 1,125 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 Health Procurement Authority (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 under investment expenditure amounted to €4,413 million, showing an increase of €404 million compared to the target, as the target was exceeded in the PDB