Greece's Ministry of National Economy and Finance published provisional state budget execution data on a modified cash basis for January–June 2025, showing a state budget balance deficit of EUR 416 million versus a Budget 2025 target deficit of EUR 2,795 million and a deficit of EUR 2,256 million in the same period of 2024. The primary result on the same basis recorded a surplus of EUR 4,667 million, above the target of EUR 2,235 million and the EUR 2,905 million surplus a year earlier. The ministry noted that these figures relate to the Central Administration and that cash results differ from the general government outcome in fiscal terms. Net revenues reached EUR 34,385 million, 1.4% above target, with tax revenues of EUR 32,296 million (7.8% above target) supported by earlier-than-expected receipts of personal income tax after the tax return filing application went live in mid-March, as well as stronger performance in current-year taxes (VAT and excise duties) and prior-year income taxes collected in instalments through end-February 2025. Receipts and VAT refunds both include EUR 784.8 million linked to Attiki Odos concession-related transactions carried out in January 2025 and fiscally attributed to 2024; total refunds were EUR 4,373 million, or EUR 3,588 million excluding that item (EUR 273 million above target). Public Investment Budget revenues were EUR 1,923 million, EUR 577 million below target, while June net revenues undershot target by EUR 1,144 million largely because the EUR 1,350 million payment from the Egnatia Odos concession was not received. Expenditure totalled EUR 34,801 million, EUR 1,891 million below target, mainly reflecting timing delays of EUR 792 million in transfer payments and EUR 510 million in armaments programme payments; notable transfers included EUR 594 million to hospitals and health authorities and EUR 400 million to cover electricity public service obligations. After excluding the timing items (including EUR 342 million of tax revenues from the first two months of 2025 that are counted fiscally in 2024), the ministry estimated the primary result overperformance versus target at EUR 788 million. It expects the remaining steps in the Egnatia Odos concession process to be completed in the coming months and said the detailed revenue breakdown will be finalised in the definitive bulletin.
Ministry of National Economy and Finance (Greece) 2025-07-15
Greece's Ministry of National Economy and Finance publishes January–June 2025 budget execution showing EUR 4,667 million primary surplus and a EUR 416 million deficit
Greece's Ministry of National Economy and Finance reported a provisional state budget deficit of EUR 416 million for January–June 2025, significantly below the target of EUR 2,795 million. The primary surplus was EUR 4,667 million, exceeding the target of EUR 2,235 million. Net revenues were 1.4% above target, driven by strong tax receipts, while expenditure was EUR 1,891 million below target due to timing delays in payments.