The primary result on a modified cash basis of the state budget amounted to 12,012 million euros in the January-November period, against a target for a primary surplus of 9,912 million euros and a primary surplus of 5,826 million euros for the same period in 2023, according to data from the Ministry of National Economy and Finance.

The difference with respect to the target is mainly due, on the one hand, to the receipt of an amount of EUR 206 million in October 2024 from the extraordinary levy on electricity suppliers, which is planned to be allocated through the Ministry of Environment and Energy, and on the other hand, to the deferral of expenditures of the armament programs and transfers to OCA of EUR 432 and 788 million respectively, which do not affect the result in fiscal terms. It is noted that the difference in tax revenues against budget targets amounts to EUR 106 million.

According to the provisional data on state budget execution, on a modified cash basis, the state budget balance showed a surplus of EUR 4,376 million against the target of a surplus of EUR 2,293 million included for the corresponding period of 2024 in the 2025 Budget Explanatory Memorandum and a deficit of EUR 1,032 million in the corresponding period of 2023. 

It should be noted that the primary outcome in budgetary terms differs from the outcome in cash terms. In addition, 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 OTAs and OKAs.

In the period January–November 2024, the amount of net revenues of the state budget amounted to EUR 66,722 million, representing an increase of EUR 304 million, or 0.46%, compared to the target included for the corresponding period in the 2025 Budget's explanatory report. 

Tax revenues amounted to EUR 60,670 million, up by EUR 106 million, or 0.2%, against the target included in the 2025 Budget narrative.

Revenue refunds amounted to EUR 6,576 million, down by EUR 124 million from the target (EUR 6,700 million) included in the 2025 Budget narrative. 

Public Investment Programme (PIP) revenues amounted to EUR 3,627 million, down by EUR 103 million from the target (EUR 3,731 million) included in the 2025 Budget narrative.

The exact breakdown between the revenue categories of the state budget will be made upon the issuance of the final report.

Specifically, in November 2024, total net state budget revenues amounted to EUR 5,391 million, up EUR 53 million against the monthly target.

Tax revenues amounted to EUR 5,535 million, up EUR 58 million or 1.1% against the 2025 budget target. 

Revenue refunds amounted to EUR 494 million, down EUR 124 million from the target (EUR 618 million).

Public Investment Budget (PIB) revenues amounted to EUR 12 million, down EUR 103 million from the target (EUR 115 million).

State Budget expenditure for the period January-November 2024 amounted to EUR 62,346 million and is presented EUR 1,779 million lower than the updated target (EUR 64,124 million), which has been included in the 2025 Budget Explanatory Memorandum. They are also increased, compared to the corresponding period in 2023, by EUR 2,151 million, mainly due to an increase in interest payments and TAF expenditure.

On the Ordinary Budget side, payments are presented lower than target by EUR 1,268 million. Excluding the difference in appropriations under allocation of EUR 331 million, which does not correspond to payments but to transfers of appropriations to the other categories from which payments are made at a later stage, the difference in payments against target amounts to EUR 937 million. This difference is justified by the timing of expenditure on the armaments programs and transfers to the CEFs of EUR 432 million and EUR 788 million, respectively, which do not affect the outturn in budgetary terms.

Noteworthy payments can be mentioned as:

(a) the payment of EUR 43 million of the heating allowance for 2024. This amount relates to the winter season 2023-2024, for which total payments amounted to EUR 218 million and will be increased in December 2024 with the payment of the advance for the winter season 2024-2025. Total payments for the winter season 2024-2025 are expected to be increased to EUR 270 million.

b) the payment of EUR 170 million from the Ministry of Rural Development and Food to ELGA for the compensation of affected farms affected by flooding due to the DANIEL-ELIAS natural disasters of September 2023 as well as for related land reclamation works,

(c) the grant of EUR 297 million from the Ministry of Infrastructure and Transport to transport operators (OASA, OASΘ and OSE),

(d) the EUR 414 million grant from the Ministry of Health to the National Central Health Procurement Authority (HCPA) to cover the cost of supplying medicines for the needs of the NHS hospitals and the Papageorgiou General Hospital,

(e) the payment by the State of EUR 119 million for the purchase of pharmaceutical and sanitary equipment,

(f) the direct payment by the State of EUR 50 million for textbooks for students of educational institutions,

(g) the payment of EUR 188 million for the acquisition of motor fuel, mainly to meet the needs of the Ministry of National Defence; and

(h) the payment of EUR 161 million for the lease of aircraft of the Ministry of Climate Crisis and Civil Protection.

Payments under the capital expenditure component amounted to EUR 9,934 million, down by EUR 510 million compared to the updated target included in the 2025 Budget Report. At the same time, they are presented as increased compared to the corresponding 2023 payments by EUR 1,348 million.