Greece posted a primary budget surplus of 6.0 billion euros in the first nine months of the year, against the budget target of 2.4 billion euros in surplus, according to final data released by the Finance Ministry. In the same period of 2022, the budget’s primary position was positive by 52 million euros. 

Higher tax collection and lower spending underscored the reasoning for fiscal outperformance. VAT, personal income tax and ENFIA property tax exceeded targets

Net state revenues reached 48.3 billion euros, exceeding the target by 23 million euros, despite the lower Public Investment Revenues

The Ministry said that revenues would have been even higher, as some 1.5 billion euros, concerning the concession of Egnatia Odos are not collected, as the tender is still ongoing. Also, the Ministry cited the delay in the collection of the third tranche in RRF money worth 1.7 billion euros.

Tax revenues rose to 44.9 billion euros, 3.0 billion euros higher than the budget target. Better-than-expected previous and this year’s tax dues collection cited. In September alone, the tax revenue growth exceeded budget target by 255 million euros,

State spending stood at 48.7 billion euros, falling short of the budget target by 2.3 billion euros.