The increased income from taxation supported the surplus, according to today’s announcement by the Ministry of National Economy and Finance (YPOIK).
The following announcement was issued by the Ministry of Finance’s Press Office:
According to the state budget execution data, on a modified cash basis, for the period January – November 2023, there is a deficit in the state budget balance amounting to 1,032 million euros against a target for a deficit of 3,001 million euros that has been included for the corresponding period of 2023 in the introductory report of the 2024 Budget and a deficit of 5,648 million euros in the corresponding period of 2022.
The primary result was a surplus of 5,826 million euros, against a target of a primary surplus of 3,771 million euros and a primary deficit of 1,091 million euros for the same period in 2022. The most important part of the difference is due to the deferral of expenditure payments, which appear reduced by 1,774 million euros against the target.
In the period January – November 2023, the amount of net revenues of the state budget amounted to 59,162 million euros, presenting an increase of 195 million euros against the target included for the corresponding period in the introductory report of the 2024 Budget.
The total revenues of the state budget amounted to 65,430 million euros, increased by 328 million euros or 0.5% against the target.
More specifically, the revenues of the major categories of the state budget are as follows:
I. Tax revenues amounted to 56,040 million euros, up by 448 million euros or 0.8% compared to the target included in the 2024 Budget report.
In particular, the following are observed for the main taxes of this category:
- VAT revenues amounted to 21,663 million euros and are increased against the target by 131 million euros.
- The revenues of the Social Insurance Institutions amounted to 6,390 million euros and are reduced compared to the target by 6 million euros.
- Real estate tax revenues amounted to 2,364 million euros and are 22 million euros short of the target.
- Income tax revenues amounted to 18,900 million euros and are higher than the target by 183 million euros.
II. The revenues of the “Social Contributions” category amounted to 53 million euros, increased by 1 million euros compared to the target included in the introductory report of the 2024 Budget.
III. The revenues of the “Transfers” category amounted to 5,423 million euros, reduced by 154 million euros compared to the target included in the introductory report of the Budget 2024. Of the above received amount of 5,423 million euros, an amount of 2,669 million euros concerns PDE revenues, which are reduced by 348 million euros compared to the target.
IV. The revenue of the “Sales of goods and services” category amounted to 794 million euros, reduced by 5 million euros compared to the target included in the introductory report of the 2024 Budget.
V. The income of the “Other current income” category amounted to 3,114 million euros, increased by 34 million euros compared to the target included in the introductory report of the Budget 2024. From the above collected amount of 3,114 million euros, an amount of 285 million . euros concerns PDE revenues, which are increased by 8 million euros compared to the target.
Revenue returns amounted to €6,267 million, up €133 million from the target (€6,134 million). The total revenue of the Public Investment Budget (PDE) amounted to 2,954 million euros, reduced by 340 million euros from the target (3,294 million euros).
In particular, in November 2023 the total net revenues of the state budget amounted to 5,285 million euros, increased by 193 million euros compared to the monthly target. The total revenues of the state budget amounted to 6,003 million euros, increased against the monthly target by 326 million euros.
More specifically, the revenues per major category of the state budget for November 2023 are as follows:
I. Tax revenues amounted to 5,361 million euros, increased by 452 million euros or 9.2% compared to the target included in the introductory report of the 2024 Budget.
In particular, the following are observed for the main taxes of this category:
- VAT revenues amounted to 2,086 million euros and are increased against the target by 137 million euros.
- The revenues of the EFCs amounted to 585 million euros and are reduced compared to the target by 13 million euros.
- Real estate tax revenues amounted to 134 million euros and are 18 million euros short of the target.
- Income tax revenues amounted to 1,988 million euros and are up against the target by 190 million euros.
II. The revenues of the “Social Contributions” category amounted to 5 million euros in line with the target.
III. The revenues of the “Transfers” category amounted to 325 million euros, reduced by 158 million euros compared to the target included in the introductory report of the Budget 2024. An amount of 124 million euros concerns PDE revenues, which are reduced by 349 million. euros against the target.
IV. The revenue of the “Sales of goods and services” category amounted to 60 million euros, reduced by 12 million euros compared to the target included in the introductory report of the 2024 Budget.
V. The income of the “Other current income” category amounted to 252 million euros, increased by 43 million euros compared to the target included in the introductory report of the Budget 2024. An amount of 20 million euros concerns PDE income, which is increased by 7 million euros against the target.
Revenue returns totaled €718 million, up €133 million from the target (€584 million).
The expenses of the State Budget for the period January – November 2023 amounted to 60,194 million euros and are presented reduced by 1,774 million euros compared to the target (61,969 million euros), which is included in the introductory report of the 2024 Budget. They are also increased , in relation to the corresponding period of 2022, by 1,116 million euros, mainly due to increased interest expenses by 2,291 million euros, taking into account countervailing changes in other categories of expenses.
According to the newsit, in the section of the Regular Budget the payments are shown reduced compared to the target by 1,270 million euros. This development is mainly due to the postponement of the cash payments of the equipment programs of the Ministry of National Defense by 568 million euros, as well as the postponement of the consumption of the appropriations under allocation.
Notable payments include:
the grant to the Information Society M.A.E. in the amount of 786 million euros, to serve the needs of the Market Pass and its extension, the return to the Energy Transition Fund of 367 million euros of surplus energy producers, for the period from October 1, 2021 to June 30, 2022, as well as this year’s Diesel heating subsidy payments of €100 million. All the aforementioned payments were covered by redistributing appropriations from the reserve to promote actions to tackle the energy crisis (appropriations under allocation).
Payments in the investment expenditure arm amounted to 8,586 million euros, showing a decrease of 504 million euros in relation to the target. The expenditure of the PDE includes an amount of 124 million euros to service COVID-19 measures, with the most important of these, the reinforcement of health institutions with auxiliary staff to respond to the needs due to the COVID-19 pandemic in the Regions, the support of start-ups in the framework of Elevate Greece, the creation of a network of nurses for the collection of samples of biological material and nursing assistance in suspected cases of coronavirus at home and the grant of existing small and medium-sized enterprises in the retail sector, which maintain a physical store, for the development, upgrading and management online store.
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