Tax revenues for the January-April period stood at 20.24 billion euros, 11.4% above the target. The overrun is due to the €903 million from the first installment of the ENFIA, which was collected in April instead of May as planned, as well as the better performance of personal and corporate income taxes from the previous year. 

In particular, according to the state budget execution data, on an amended cash basis, for the period January–April 2024, there is a deficit in the state budget balance of €250 million, compared to a target deficit of €2,699 million included for the corresponding period of 2024 in the 2024 Budget Report and a deficit of EUR 789 million in the corresponding period of 2023. The primary balance on a modified cash basis was a surplus of €3,282 million, against a target of a primary surplus of €631 million and a primary surplus of €2,443 million for the same period in 2023. It should be noted that the first installment of ENFIA of €903 million was collected in April, which had been projected to be collected in May (the projected collection amount for May was €940 million). Moreover, a significant part of the difference in the primary surplus against the target in cash terms is not counted in the 2024 primary outcome in fiscal terms. Indicatively, an amount of €159 million related to Recovery and Resilience Fund revenues does not affect the outcome in fiscal terms, while a significant part of the difference in tax revenue collections of €647 million is counted in the fiscal year 2023 outturn. 

In the period January–April 2024, the amount of net revenues in the state budget amounted to €22,538 million, representing an increase of €2,340 million, or 11.6%, compared to the target included for the corresponding period in the 2024 Budget Report. Although the target of the report included the collection in the month of March of an amount of €1,797 million from the Recovery and Resilience Fund (RRF), most of which, i.e., €1,687 million, was collected in December 2023, and an additional amount of €159 million was collected in January 2024.

Excluding the above amount, net revenue shows an increase of €3,978 million, or 21.6%, against the target. This increase is mainly due to: a) increased tax revenue of €2,031 million after deduction of refunds; and b) increased PAYG revenue of €1,151 million.

Total state budget revenue amounted to €24,686 million, an increase of €2,388 million, or 10.7%, against the target.