Budget: With a primary surplus of EUR 7.5 billion in the eight months of 2024

For the period January – August 2024, it is presented in the balance of the state of EUR 1,048 million against a deficit target of EUR 2.774 million included for the corresponding period of 2024 in the budget report 2024 and a deficit of EUR 92 million in the corresponding period of 2023. The primary result on an amended cash basis was a surplus of EUR 7.571 million, against a target for a primary surplus of EUR 3.316 million and a primary surplus of EUR 5.596 million for the same period in 2023. It is noted that part of the difference in tax revenue receipts of EUR 647 million is counted on the financial result of the year 2023, while part of the difference between the transfer payments to CIU of EUR 1,854 million and the amount for equipment expenditure of EUR 634 million (i.e. a total of EUR 2,488 million), does not affect the result in budgetary terms. In addition to these amounts, the target in the primary surplus of the State budget for the period January to August is EUR 1,120 million. Therefore the primary result in budgetary terms differs from the result in cash terms. It should be noted that the above concern the primary effect of the Central Administration rather than the whole of the General Government, which includes the financial results of the Legal Persons and Subsectors of TTA and OCA. In addition, these relate to the comparison with the objectives of the budget report 2024. When drawing up the Stability Programme in April 2024, it has already been taken into account that an amount of EUR 1,238 million on a budgetary basis derived from an updated forecast of the tax revenue of 2024 is directed at increased expenditure on the regular budget of the General Government bodies, as well as the National strand of the Public Investment Programme. In January – August 2024, the amount of net revenue of the State budget amounted to EUR 45,137 million, with an increase of EUR 232 million or 0,52% compared to the target included for the corresponding period in the budget report 2024, although the purpose of the draft report was to include: The next steps of the procedure until the fee is paid are expected to be completed in the following months. Tax revenues amounted to EUR 43,092 million, increased by EUR 1,989 million or 4,8% compared to the objective set out in the budget report 2024. This overexecution derives from the best return on the income taxes of natural and legal persons of the previous year received in instalments by the end of February 2024 (note that an estimated amount of EUR 647 million is counted on the financial result of the year 2023) and the best return on the collection of taxes of this year. Therefore, the excess of tax revenue measured in the year 2024 amounts to EUR 1,342 million. It is noted that these relate to comparison with the objectives of the budget. During the preparation of the Stability Programme in April 2024 an increase in tax revenue of 1,238m euros has already been taken into account, directed at increased expenditure for the year 2024 of the regular budget of the General Government bodies, as well as the National strand of the Public Investment Programme, as reflected in the Stability Programme. Revenue refunds amounted to EUR 4,499 million, increased by EUR 41 million from the objective (EUR 4,457 million). The revenues of the Public Investment Programme (PIP) amounted to 3,147m euros, increased by 569m euros from the target (2.578m euros). The exact breakdown between the revenue categories of the state budget will be made by issuing the final statement. In particular, in August 2024 the total net revenue of the State budget was EUR 5,950 million, reduced by EUR 631 million compared to the monthly target. Tax revenues amounted to 6,226m euros , reduced by 201m euros or 3.1% compared to the budgetary objective , which is estimated to be linked to increased income tax receipts, mainly legal persons of the previous month , associated with the time of expiry of tax returns. Revenue refunds amounted to EUR 600 million , increased by EUR 37 million from the objective (EUR 563 million). The revenue of the Public Investment Budget (PPS) amounted to 143m euros , reduced by 376m euros from the target (519m euros). The expenditure of the State Budget for the period January – August 2024 amounted to EUR 44,089 million and is reduced by EUR 3,590 million compared to the objective (EUR 47,679 million), which has been included in the budget report 2024. It is also increased, compared to the corresponding period of 2023, by EUR 878 million, mainly due to the increase in interest payments. In the part of the Regular Budget payments are reduced against the target by EUR 3,291 million. This development is mainly due to the heterochronisation of transfer payments to OCAs by EUR 1,854 million, as well as expenditure related to equipment projects of EUR 634 million, which do not affect the result in budgetary terms. Counterpractice, i.e. increasing in relation to the target, increased interest payments to serve public debt by EUR 465 million. As notable transfers can be mentioned: the payment of EUR 130 million from the Ministry of Rural Development and Food to the ELGA to compensate the affected agricultural holdings from flooding phenomena due to the natural disasters Daniel & Elias of September 2023 as well as for relevant land improvement projects, the grant of EUR 225 million from the Ministry of Infrastructure and Transport to transport operators (OASA, OASH and OASE), the grant of EUR 276 million from the Ministry of Health to the National Central Health Procurement Authority (EPAY) to cover the cost of supply of medicines for the needs of the hospitals of the NSO and G.N. Papageorgiou and the 98m-euro grant to the Higher Educational Institutions (AEI) to cover their operational costs. Payments on the investment expenditure side amounted to EUR 6.549 million, presenting a delay of EUR 299 million compared with the target.