Greek budget showed primary surplus of 3.555 billion euros in January-July 2023

Tax revenues in the first seven months of 2023 exceeded budget targets by 2.3 billion euros, or 7.5%, according to figures released by the national economy and finance ministry on the execution of the Greek state budget on Wednesday. The net result for the January-July period was a primary surplus of 3.555 billion euros, almost double the 2023 budget target for a primary surplus of 1.83 billion euros and up from a deficit of 1.161 billion euros in the same period in 2022.
More specifically, a report on provisional budget execution on a modified cash basis showed that the general government balance recorded a deficit of 1.438 billion euros in Jan-Jul. 2023, down from a budget target for a deficit of 2.320 billion euros and a deficit of 4.585 billion euros in the same period in 2022.
Net revenue was 37.145 billion euros, down 1.4% from budget targets, while tax revenue was 33.768 billion euros, up 7.5% from targets. About 470 million euros of this increase were a result of extending the deadline for paying vehicle circulation tax until February 2023, instead of December 2022, while the rest was from income taxes and better collection of current taxes.