State Budget: Primary surplus of over €12 billion in 11 months

A surplus of 4.375 billion is shown in the state budget balance for the January-November 2024 period, against a target of a surplus of 2.293 billion EUR, 2.032 billion for the corresponding period of 2024 and a deficit of EUR 1.032 billion in the corresponding period of 2023.

More specifically, according to the final state budget execution data, on an amended cash basis, presented by the Ministry of National Economy and Finance:

The primary result was a surplus of €12.011 billion, against a target for a primary surplus of €9.912 billion and a primary surplus of €5.826 billion for the same period in 2023. The difference with respect to the target mainly stems on the one hand from the collection 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 from the deferral of expenditures of the armament programs and transfers to CSOs amounting to EUR 432 and 788 million respectively, which do not affect the result in fiscal terms.

It is noted that tax revenues are close to the budget targets (difference of EUR 4 million).

It is noted that the primary outcome in fiscal 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.

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