The Greek budget recorded a primary surplus of 2.954 billion euros in the first quarter (Jan-March), adjusted cash basis, up from a target of 2.133 billion euros, and compared to a primary surplus of 3.079 billion in the corresponding period last year.
According to the provisional execution data of the state budget, on a modified cash basis, for the period of January-March 2024, there is a deficit in the state budget balance of 77 million euros compared to a target of 817 million deficit included for the corresponding period in the 2024 budget and a surplus of 220 million for the corresponding period in 2023.
A 159 million euros amount linked to the revenues of the Recovery and Resilience Fund (RRF) does not affect the fiscal result, while a significant portion of the difference in tax revenue collections amounting to 647 million euros is included in the fiscal result for the year 2023. This leads to a notable discrepancy between the fiscal primary result and the result in cash terms.
The above concerns the primary result of the Central Administration and not the total General Government, which includes the fiscal results of Legal Entities and the subsidiaries of Local Authorities and Legal Entities.
During the period January-March 2024, the net revenues of the state budget amounted to 16.790 billion euros, an increase of 398 million or 2.4% compared to the target included for the corresponding period in the budget proposal for 2024.
Excluding the amount from the RRF, net revenues show an increase of 2.036 billion euros or 14% compared to the target. This increase is mainly due to an increase in tax revenues by 654 million after deducting refunds and increased revenues from the Public Investment Program (PIP) by 1.029 billion.
Tax revenues amounted to 14.920 billion, increased by 674 million or 4.7% compared to the target included in the budget proposal for 2024.
Source: tovima.com
Latest News
Deadline for Postal Vote Registration Expires on Mon.
More than 157,000 Greek citizens had registered on the relevant online platform so far
Orthodox Palm Sunday Today; Shops Open in Greater Athens-Piraeus Area
Orthodox Holy Week begins on Monday, April 29, and ends on Sunday, Easter Sunday or Great and Holy Pascha (May 5)
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%