The tax revenues for March appear increased according to the final budget execution bulletin, issued by the Ministry of Finance. Specifically, they amounted to 3.385 billion euros, increased by 457 million euros or 15.6% against the target, as a result of the better performance in the collection of taxes this year, as noted in the announcement.
See detailed budget execution data here
Revenues for the period January-March 2022
At the same time, according to the execution data of the state budget, on a modified cash basis, for the period January-March 2022, there is a deficit in the state budget of 3.884 billion euros against a target for a deficit of 3.593 billion euros that has been included for the corresponding 2022 in the presentation report of the 2022 Budget and a deficit of 5.714 billion euros in the corresponding period of 2021.
The primary result was a deficit of 1.650 billion euros, against a target for a primary deficit of 1.331 billion euros and a primary deficit of 3.413 billion euros for the same period in 2021.
The amount of net revenues of the state budget amounted to 11.963 billion euros, showing a decrease of 1.349 billion euros or 10.1% compared to the estimate for the corresponding period included in the presentation of the 2022 Budget.
However, the target of the presentation report was the collection in February of the first installment for 2022 from the Recovery and Resilience Fund (TAA) of 1.718 billion euros, which was collected on April 9, 2022 and will appear in the State Budget Execution Bulletin. April 2022. Excluding the amount from the TAA, net revenues show an increase of 369 million euros or 2.8% against the target, despite the reduced revenues of the Public Investment Budget (PDB).
The total state budget revenues amounted to 13.266 billion euros, reduced by 1.069 billion euros or 7.5% against the target. Excluding the above amount from the TAA, total revenue is € 649 million higher than the target.
Specifically, the revenues of the major categories of the state budget are as follows:
A. The income of the category “Taxes” amounted to € 1,090 billion, up € 1,283 billion or 11.9% from the target set out in the 2022 Budget report. better return of the previous year taxes collected in installments until the end of February 2022, as well as the best return on the collection of taxes of the current year.
In particular, the following are observed for the main taxes of this category:
* VAT revenues amounted to 4.898 billion euros and are increased against the target by 496 million euros.
* EFC revenues amounted to 1.530 billion euros and are reduced against the target by 67 million euros.
* Real estate tax revenues amounted to 493 million euros and are higher than the target by 16 million euros.
* Revenue tax revenues amounted to 3.515 billion euros and are higher than the target by 315 million euros.
B. The income of the category “Social Contributions” amounted to EUR 14 million according to the target.
C. The income of the category “Transfers” amounted to € 454 million, down by € 2.469 billion from the target set out in the 2022 Budget Report, mainly due to the non-collection of the expected tranche of € 1.718 billion by the TAA. Of the above amount of EUR 454 million, EUR 396 million relates to PDE revenues, which are reduced by EUR 790 million compared to the target.
D. Revenues of the category “Sales of goods and services” amounted to EUR 169 million, an increase of EUR 46 million over the target set out in the 2022 Budget Report.
E. The income of the category “Other current income” amounted to EUR 535 million, an increase of EUR 67 million over the target set out in the 2022 Budget Report. Of this amount, EUR 186 million relates to EDP revenue, which is EUR 128 million higher than the target .
F. The income of the category “Sales of fixed assets” amounted to EUR 4 million, an increase of EUR 4 million compared to the target set out in the 2022 Budget Report.
Revenue returns amounted to € 1.303 billion, up € 280 million from the target (€ 1.023 billion).
The total revenue of the Public Investment Budget (PDB) amounted to 582 million euros, reduced by 663 million euros from the target (1.245 billion euros).
Revenue for March 2022
In particular, in March 2022, the total net revenues of the state budget amounted to 2.990 billion euros, reduced by 379 million euros compared to the monthly target, due to the reduced revenues of PDE.
The total state budget revenues amounted to 3.651 billion euros, reduced by 58 million euros compared to the estimate for the corresponding period included in the budget report 2022.
More specifically, the revenues of the major categories of the state budget for March 2022 are as follows:
A. The income of the category “Taxes” amounted to 3.385 billion euros, up 457 million euros or 15.6% from the target due to better performance in tax collection this year, as mentioned above.
In particular, the following are observed for the main taxes of this category:
* VAT revenues amounted to 1.405 billion euros and are increased against the target by 216 million euros.
* Revenues of EFK amounted to 541 million euros and are increased against the target by 18 million euros.
* Real estate tax revenues amounted to 76 million euros and are higher than the target by 22 million euros.
* Income tax revenues amounted to 852 million euros, and are higher than the target by 92 million euros.
B. The income of the category “Social Contributions” amounted to EUR 5 million according to the target.
C. The income of the category “Transfers” amounted to EUR 74 million, reduced by EUR 513 million compared to the target set out in the 2022 Budget Report. by € 546 million against the target.
D. Revenues of the category “Sales of goods and services” amounted to EUR 58 million, an increase of EUR 19 million compared to the target set out in the 2022 Budget Report.
E. The income of the category “Other current income” amounted to EUR 130 million, which is EUR 21 million less than the target set out in the 2022 Budget Report. Of this amount, EUR 1 million relates to EDP revenue, which is EUR 24 million less than the target .
Revenues amounted to € 661 million, up € 321 million from the target (€ 340 million).
The total revenue of the Public Investment Budget (PIP) amounted to 35 million euros, reduced by 570 million euros compared to the target (605 million euros).
The costs
State Budget expenditures for the period January – March 2022 amounted to 15.847 billion euros and are reduced by 1.059 billion euros compared to the target (16.905 billion euros), which is included in the budget report 2022.
On the part of the Regular Budget, there is a lag of 1.517 billion euros against the target, which is mainly due to the delay of payments of armaments programs by 459 million euros. There is also a lag in transfers to OKA by 207 million euros, in the current transfers to EU organizations and states. by EUR 188 million and the forfeiture of guarantees by EUR 147 million.
Payments in the area of investment expenditure amounted to 1.902 billion euros, showing an increase compared to the target of 1.443 billion euros by 459 million euros.
The provisional picture of the main payments of the measures against the pandemic for the period January – March, is as follows:
(a) the support of small and micro-enterprises affected by COVID-19 in the Regions amounting to EUR 150 million from the EDP;
b) the public contribution for the repayment of business loans of affected borrowers amounting to 59 million euros from the EDP;
(c) a working capital subsidy to tourism businesses of EUR 42 million from the EDP; and
d) the special purpose compensation expenditure of EUR 55 million, paid by the Ministry of Labor and Social Affairs (transfer category).
State budget expenditures for the period January-March 2022 are reduced, compared to the corresponding period of 2021, by 1.376 billion euros.
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