Its primary surplus amounts to 7.5 billion euros budgetagainst a target of 3 billion euros for the 8th month of 2024.

According to the data of the Ministry of Finance, tax revenues are also exceeded by 2 billion euros, in relation to the target that was set. The additional tax revenue comes mainly from increased tax collection income tax natural and legal persons.

According to the provisional data on the execution of the state budget, on a modified cash basis, for the period January – August 2024, there is a surplus in the state budget balance amounting to 1,048 million euros against a target for a deficit of 2,774 million euros included for the corresponding period of 2024 in the introductory report of the 2024 Budget and a deficit of 92 million euros in the corresponding period of 2023. The primary result on a modified cash basis was a surplus of 7,571 million euros, against a target for a primary surplus of 3,316 million euros and primary surplus 5,596 million euros for the same period in 2023.

It is noted that part of the difference in tax revenue collections amounting to 647 million euros is counted in the fiscal result of the year 2023, while an amount related to the deferral of transfer payments to OKA amounting to 1,854 million euros and an amount for equipment program expenses amounting to 634 million euros ( i.e. a total of 2,488 million euros), does not affect the result in fiscal terms.

Excluding the above amounts, exceeding the target in the primary surplus of the state budget for the period January-August amounts to 1,120 million euros.

Therefore the primary result in fiscal terms differs from the result in cash terms. It should be noted that the above refers to its primary result Central Administration and not the whole of the General Government, which also includes the financial results of Legal Entities and the sub-sectors of OTAs and OKAs.

In addition, the above concerns the comparison in relation to the objectives of the introductory report of the 2024 Budget. During the preparation of the Stability Program in April 2024, it has already been taken into account that an amount of 1,238 million euros on a budgetary basis derived from an updated forecast of of tax revenues of 2024, is directed to increased expenses of the regular Budget of the General Government bodies, as well as of the National branch of the Public Investment Program.

In the period January – August 2024, the amount of net revenues of the state budget amounted to 45,137 million euros, presenting an increase of 232 million euros or 0.52% compared to the target included for the corresponding period in the introductory report of the 2024 Budget , although the objectives of the report included: a) the collection in the month of March of an amount of 1,797 million euros from the Recovery and Resilience Fund (Resilience Fund)most of which, i.e. the amount of 1,687 million euros, was collected in December 2023 and an additional amount of 159 million euros was collected in January 2024 and b) the collection in June of a price of 1,350 million euros from the concession contract services for the financing, operation, maintenance and exploitation of the Egnatia Road motorway and the three (3) vertical road axes, which was signed on 29.03.2024. The next steps in the process until the payment of the price are expected to be completed in the coming months.

Tax revenues amounted to 43,092 million euros, up by 1,989 million euros or 4.8% compared to the target included in the 2024 Budget report. 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. Therefore, the excess of tax revenues that is counted fiscally in the year 2024 amounts to 1,342 million euros.

It is noted that the above concerns the comparison in relation to the objectives of the Budget. During the preparation of the Stability Program in April 2024, an increase in tax revenues of 1,238 million euros has already been taken into account, which is directed to increased expenses for the year 2024 of the regular Budget of the General Government bodies, as well as the National branch of the Public Investment Program , as reflected in the Stability Program.

Revenue returns amounted to €4,499 million, up €41 million from the target (€4,457 million).

The revenues of the Public Investment Program (PIP) amounted to 3,147 million euros, increased by 569 million euros from the target (2,578 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, the August 2024 the total net revenues of the state budget amounted to 5,950 million euros, reduced by 631 million euros compared to the monthly target.

Tax revenues amounted to 6,226 million euros, down by 201 million euros or 3.1% compared to the Budget target, which is estimated to be related to the increased income tax collections, mainly from legal entities in the previous month, linked to the due date of tax returns.

Revenue returns totaled €600 million, up €37 million from the target (€563 million).

His income Public Investment Budget (PDE) amounted to 143 million euros, reduced by 376 million euros from the target (519 million euros).

The State Budget expenditures for the period January – August 2024 amounted to 44,089 million euros and are presented reduced by 3,590 million euros compared to the target (47,679 million euros), which is included in the introductory report of the 2024 Budget. They are also increased , compared to the corresponding period of 2023, by 878 million euros, mainly due to the increase in interest payments.

In the section of the Regular Budget, the payments are shown reduced compared to the target by 3,291 million euros. This development is mainly due to the deferral of transfer payments to OKA by 1,854 million euros, as well as the costs related to equipment programs amounting to 634 million euros, which do not affect the result in fiscal terms. Conversely, i.e. incrementally in relation to the target, interest payments to service the public debt moved by 465 million euros.

Notable transfer payments can be mentioned: the payment of 130 million euros 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 in September 2023 as well as for related land improvement projects, the a 225 million euro grant from the Ministry of Infrastructure and Transport to transport agencies (OASA, OASTH and OSE), a 276 million euro grant from the Ministry of Health to the National Central Health Procurement Authority (EKAPY) to cover the cost of supplying medicines for needs of the NHS and G.N. hospitals. Papageorgiou and the grant of 98 million euros to the Higher Educational Institutions (HEIs) to cover their operational costs.

Payments in the investment expenditure arm amounted to 6,549 million euros, showing a shortfall of 299 million euros in relation to the target.