2024 ended with a primary surplus of €8.6 billion, against a target of €4.6 billion. As the budget execution data show, the year ended with a fiscal surplus of €300 million, against a target for a deficit of €3.6 billion. Tax revenues amounted to €68.8 billion and, excluding the amount from the new Attiki Odos concession contract, are €371 million higher than the target.
More specifically, according to the provisional state budget execution data, on a modified cash basis, for the period January–December 2024, there is a surplus in the state budget balance of €300 million compared to the target for a deficit of €3,601 million included for the corresponding period of 2024 in the 2025 Budget Report and a deficit of €3,760 million in the corresponding period of 2023. The primary balance on a modified cash basis was a surplus of €8,629 million, against a target of a primary surplus of €4,635 million and a primary surplus of €3,920 million for the same period in 2023.
As the Ministry of National Economy and Finance's statement notes, a significant part of the difference compared to the target comes from, on the one hand, the increased cash receipts from the PDE by 612 million euros and, on the other hand, the carry-over of expenditure payments of the armament programs to 2025 and the under-execution of transfers to OKA amounting to 740 and 1,907 million euros, respectively, which do not affect the result in fiscal terms. Excluding the above amounts, the positive difference in the primary surplus against the target amounts to EUR 735 million, of which EUR 467 million relates to the excess of tax revenues after refunds.
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 financial results of the legal entities and the sub-sectors of the OTA and OKA.
As mentioned in the previous State Budget execution bulletins, in October the net amount of EUR 3,241 million was received, relating to the consideration from the new Attica Road Concession Contract, which appeared entirely in the category "Sales of goods and services.". The concession contract stipulated that the above amount included VAT (EUR 784.8 million), and therefore this amount should have been included in the 'Taxes' category.
