Exceeding tax revenues by 3 billion euros and a primary surplus of over 13 billion. euros appears in the ten-month budget. The increase in the surplus is also linked to the income from the new Attica Road concession contract.

In detail, according to the provisional data on the execution of the state budget, on a modified cash basis, for the period January – October 2024, it is presented surplus in the state budget balance amounting to 6,078 million euro against a deficit target of 2,213 million euros that has been included for the corresponding period of 2024 in the introductory report of the 2024 Budget and a deficit of 482 million. euros in the corresponding period of 2023. The primary result on a modified cash basis amounted to a surplus of 13,489 million. euros, against a target for a primary surplus of 4,667 million euros and a primary surplus of 6,080 million euros for the same period in 2023.

A significant part of the difference arises from the collection during the month of October in the amount of 3,241 million euros from the new Attica Road concession contractwhich was foreseen in the target date to be received in the month of December 2024.

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 concerning the deferral of transfer payments to OKA amounting to 1,811 million. euros and expenditure on equipment programs amounting to 1,076 million euros (i.e. a total of 2,887 million euros), does not affect the result in fiscal terms. Additionally, it is noted that from the collected amount of 3,241 million euros in October 2024 from the price of the new Attica Road concession contract for 25 years, the amount of 22 million is counted in the fiscal result of the year 2024. euro.

Excluding the above amounts, exceeding the target in the primary surplus of the state budget for the period January-October amounts to 2,070 million. euro.

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 addition, the above concerns the comparison in relation to the objectives of the introductory report of the 2024 Budget. During the preparation of the Draft State Budget in October 2024, it has been taken into account that an amount of 2,816 million euro on a fiscal basis derived from an updated forecast of 2024 net tax revenues,
(i.e. minus refunds) is directed to increased expenses of the regular Budget of the General Government bodies, as well as the National arm of the Public Investment Program.

In the period January – October 2024, the amount of net revenues of the state budget amounted to 61,263 million. euros, showing an increase of 3,522 million euros or 6.10% against the target included for the corresponding period in the introductory report of the 2024 Budget, as an amount of 3,241 million was collected. euros in October from the new contract
concession of the Attica Road, which was foreseen in the target location to be collected in the month of December 2024.

It is noted that the objectives of the introductory report for the ten months of January-October 2024 included:

a) the collection in the month of March of an amount of 1,797 million euros from the Recovery and Resilience Fund (TAA), which in most of it, i.e. the amount of 1,687 million euros, had been collected in December 2023 and an additional amount of 159 million euro was collected in January 2024 and

b) the collection in the month of June of a price of 1,350 million euros from the service concession agreement 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.

Excluding the above amounts, net income shows an increase of 4,121 million. euros or 7.81% against the target. This increase is mainly due to:

a) to the increased tax revenue by 2,419 million euros after deducting refunds, b) in the increased PDE revenues by 664 million euros, c) to the increased income from reimbursements of expenses by 418 million euros and d) the increased collection of interest on deposits at the Bank of Greece by 309 million. euro.

Tax revenue amounted to 55,319 million euros, increased by 3,025 million euros or 5.8% against the target included in the introductory report of the 2024 Budget.

OR This outperformance comes both 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. Therefore, the excess of tax revenues that is calculated fiscally in the year 2024 amounts to 2,378 million. euro.

It is noted that the above concerns the comparison in relation to the objectives of the 2024 Budget, while during the preparation of the Draft State Budget 2025, the relevant estimates were updated, taking into account the execution of the revenues.

Revenue refunds amounted to 6,082 million. euros, increased by 607 million euros from the target (5,475 million euros).

The revenues of the Public Investment Program (PDE) amounted to 3,616 million euros, increased by 664 million euros from the target (2,952 million euros), as mentioned above.

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 October 2024 the total net revenues of the state budget amounted to 10,365 million. euros, increased by 4,758 million euros against the monthly target mainly due to delayed collection in the month of October:

a) of the 4th tranche of grants from the Recovery and Resilience Fund amounting to 999 million euro, which was expected to be collected in the month of September,

b) an amount of 3,241 million euros as consideration for the new Attica Road concession contract for 25 years, which was expected to be collected during the month of December. Tax revenues amounted to 6,452 million. euros, increased by 531 million euros or 9.0% against the target of Budget 2024. Revenue refunds amounted to 611 million. euros, increased by 55 million euros from the target (557 million euros).

The revenues of the Public Investment Budget (PDE) amounted to 19 million. euros, reduced by 33 million euros from the target (52 million euros). State Budget expenditures for the period January – October 2024 amounted to 55,186 million. euros and are shown reduced by 4,769 million euros against the target (59,954 million euros), which has been included
in the introductory report of the 2024 Budget.

They are also increased, compared to the corresponding period of 2023, by 779 million. euros, mainly due to the increase in interest payments and TAA expenses.

In the section of the Regular Budget, the payments are shown reduced compared to the target by 3,865 million. euro. This development is mainly due to the deferral of transfer payments to OKA by 1,811 million. euros, as well as the costs related to equipment programs amounting to 1,076 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 572 million. euro. Notable transfer payments include: the payment of 170 million euros from 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 as well as for related land improvement projects, the grant of 273 million euros from the Ministry of Infrastructure and Transport to transport agencies (OASA, OASTH and OSE), the grant of 311 million euros from the Ministry of Health 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 National Health Service. Papageorgiou and the grant of 136 million euros to the Higher Educational Institutions (HEIs) to cover their operational costs.

Payments in the part of investment expenses amounted to 8,383 million. euros, showing a deficit of 904 million euros compared to the target.