Greek state budget posts 1.480 bln€ surplus in Jan. 2023

Greece’s state budget posted a surplus of 1.48 billion euros in January 2023, up from a budget target of 917 million euros and a deficit of 1.199 billion euros recorded in January 2022, the finance ministry announced on Tuesday, in detailing budget execution data for the previous month on a modified cash basis.

The primary result showed a surplus of 2.773 billion euros, up from budget target of 2.147 billion euros and a primary surplus of 15 million euros over the same period last year.

Net budget revenue was 7.166 billion euros in January, up 8.75 from targets, while regular budget revenue was 7.611 billion, up 11.1 percent from targets.

Tax revenues were up 12 percent to 4.928 billion euros; VAT remittances totaled 2.277 billion euros, up 246 million from the target.

Tax returns reached 445 million euros, up 184 million euros from the target, while Public Investment Program revenues reached 601 million euros, up 86 million euros from monthly targets.