The state budget recorded a primary surplus of €2,905 million against a target surplus of €1,204 million and a surplus of €2,116 million for the same period in 2023, according to the final figures announced by the Ministry of Economy and Finance for the period January–June 2024. 

According to the state budget execution data, there is a deficit in the state budget balance of €2,256 million against a target of a deficit of €3,616 million included for the same period of 2024 in the 2024 Budget's explanatory report and a deficit of €2,462 million in the same period of 2023.

Note that 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 receipts 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 2023 fiscal outturn. Therefore, the primary outcome in budgetary terms differs from the outcome in cash terms. It should be noted that the above refers to the primary result of the Central Administration and not to the general government as a whole, which includes the fiscal results of the legal entities and the sub-sectors of the local governments. 

NET REVENUES

In the period January–June 2024, the amount of net revenues from the state budget amounted to €31,466 million, showing a decrease of €287 million, or 0.9%, compared to the target included for the corresponding period in the 2024 Budget's explanatory report, as the target of the explanatory report had included: a) the collection in March of €1,797 million from the Recovery and Resilience Fund (RDF), most of which, i.e., €1,687 million, was collected in March. €1,350 million from the concession contract for the financing, operation, maintenance, and exploitation of the Egnatia Motorway and the three (3) vertical roads, which was signed on March 29, 2024, and the next steps of the process until the payment of the price are expected to be completed in the coming months.

Excluding the above amounts, net revenues show an increase of €2,701 million, or 9.4%, against the target. This increase is mainly due to: a) increased tax revenue of €1,377 million after deduction of refunds; and b) increased PTE revenue of €776 million.

Total state budget revenue amounted to €34,690 million, down by €406 million, or 1.2%, against the target.