Greece's Ministry of National Economy and Finance reports Jan–Sep 2025 state budget surplus of EUR 2.401bn and primary surplus of EUR 9.449bn above target

Greece's Ministry of National Economy and Finance published state budget execution data on a modified cash basis for January–September 2025, showing a cash surplus of EUR 2.401bn against a budget target for a EUR 1.581bn deficit. The primary result on the same basis recorded a EUR 9.449bn surplus versus a target of EUR 5.209bn, with the release noting that these figures relate to the Central Administration and that fiscal-basis outcomes differ from cash-basis results. Net state budget revenues totalled EUR 54.661bn, EUR 557m (1%) above target, supported by taxes before refunds of EUR 52.722bn, EUR 2.088bn (4.1%) above target, including VAT of EUR 20.378bn (EUR 645m above target) and income taxes of EUR 19.796bn (EUR 964m above target). The revenue picture also reflected timing and neutrality adjustments, including EUR 784.8m of transactions linked to the Attiki Odos concession (recorded both in “sales of goods and services” and VAT refunds and described as fiscally neutral) and the non-receipt to date of a budgeted EUR 1.350bn concession fee for the Egnatia Odos motorway, with completion of steps up to payment expected in the coming months. Expenditure for January–September amounted to EUR 52.260bn, EUR 3.426bn below target, largely attributed to timing shifts in transfer payments (EUR 2.073bn) and armaments programme payments (EUR 650m), which the ministry stated do not affect the General Government result in fiscal terms. The ministry also reported that EUR 342m of tax revenue from the first two months of 2025 is counted in fiscal terms in 2024, and estimated that excluding the stated timing effects the primary balance overperformance versus target on a modified cash basis was EUR 1.175bn.