Greece’s state budget posted a primary deficit of 6.676 billion euros in 2022, down from a budget target shortfall of 8.506 billion euros and a primary deficit of 10.327 billion euros in 2021, the finance ministry announced on Monday.
Specifically, according to provisional data from the executed budget, on an amended cash basis, the state budget posted a deficit of 11.680 billion euros in 2022, down from a budget target for a deficit of 13.4 billion euros and a deficit of 14.872 billion euros in 2021. Alternate Finance Minister Theodoros Skylakakis, in referring to the figures, said they were compatible with the set target.
Net revenue reached 59.598 billion euros, down 0.4 percent from budget estimates, while regular budget revenue reached 65.751 billion euros, down 0,1 percent from the prescribed target. Tax revenue totaled 55.316 billion euros, up 0.3 percent from the target; tax returns totaled 6.153 billion euros (up 159 million from the target), while Public Investment Program revenues totaled 3.573 billion euros, down 885 million from target.
Budget spending was 71.278 billion euros, down 2.7 percent from targets, while regular budget spending was down 1.384 billion from targets. Budget spending was up by 1.528 billion euros compared with 2021.
In December 2022, budget revenues totaled 6.168 billion euros, down 543 million from monthly targets, while regular budget revenue was 6.770 billion, down 574 million from 2023 budget estimates. Tax revenue was 5.137 billion euros, down 4.9 percent from the target, while tax returns totaled 601 million euros, down 31 million from targets. Public Investment Program revenue was 705 million euros, down 811 million from target.
Latest News
ETC Report: Greece 3rd Most Popular Destination for Europeans
Italy and Spain are tied as the top destinations, each attracting 8% of travelers
Greece Battles EC to Protect Rice Industry and Public Health
Together with several other EU countries, Greece successfully blocked the European Commission's proposal to increase allowable levels of a banned pesticide commonly found in rice imported from southeast Asia
Eurostat: 3.2% Annual Inflation in Greece in April
The data shows that Greece ranks seventh in overall inflation within the eurozone and second in food inflation
Intrum’s 2024 Report Unveils Greek Businesses Embrace Digitalization for Growth
Looking ahead, over 40% of businesses prioritize development for 2024, with 65% recognizing the potential of digital business models as sustainable investments
IOBE: Mild Drop in April Business Confidence Index (BCI) in Greece
The positive balance of expectations for employment witnessed a marginal decline, while the index for production forecasts also recorded a mild drop
Greek PM Mitsotakis Calls on EU to Intervene Over Multinationals’ Pricing Policy
Speaking about price fairness, the Prime Minister emphasized, "Europe should also mean similar or uniform prices for the products sold by our multinational corporations.
Greenhouse Gas Emissions: 4% Decrease in EU, 0.3% Rise in Greece in Q4 2023
The EU's GDP remained stable with a marginal 0.2% increase in fourth quarter of 2023
HEREMA CEO: High Expectations from Natgas Exploration Off Crete
3D seismic surveys were conducted in the two offshore blocks west and southwest of Crete by a consortium comprised of ExxonMobil and HelleniQ Energy
EC Spring Forecast: Greek GDP at 2.2 in 2024, 2.3% in 2025
Besides Greek GDP inflation is expected to drop by a substantial 2.4% in 2024, settling at 2.8% from 4.2% in 2023 with 2025 recording a further decline to 2.1%
EBRD Raises Outlook for Greek GDP to 2.3% in 2024, 2.6% in 2025
Key downside risks remain, associated with possible delays in deploying Recovery and Resilience Facility (RRF) funds and weaknesses in key export markets and tourism source countries