Budget: Primary surplus of EUR 5,343 billion in the five months of January – May 2025

Primary result of EUR 5,343 billion was recorded in budget the first five months this year, against target for primary surplus EUR 1,055 billion and primary surplus EUR 3,197 billion for the same period in 2024.

It is noted that EUR 1,993 billion in terms of regular budget payments and € 499 million concerning the detention of investment expenditure, do not affect the outcome of the General Government on budgetary terms. In addition, an amount of EUR 342 million in the first two months of tax revenue is fiscalized in 2024. Excluding the above amounts, the primary surplus on a modified cash base, against the budget objectives, is estimated at EUR 1,454 billion.

It is noted that this five -month amount also includes a part of part of the EUR 665 million estimated income tax, which had been projected to be collected in the coming months, because the application for tax returns was put into operation in mid -March.

According to data from the Ministry of Finance, in January – May 2025, the net revenue of the state budget amounted to EUR 28,969 billion, increasing an increase of EUR 1,632 billion or 6% against the target included for the corresponding period in the budget report of 2025.

It is noted that this amount contains both revenue (in the “Sales of goods and Services”) and tax refunds (VAT), the amount of EUR 784.8 million from transactions required in January 2025 for the completion of the new Attica Concession Agreement and 2024.

In particular, The revenue of the major categories of state budget are as follows:

1. Revenue of the “Taxes” category amounted to EUR 26,954 billion, increased by EUR 1,677 billion or 6.6% against the target mainly because of:

(a) Part of the income tax of 665 million euros, which had been projected to be collected in the coming months, as the application for the submission of tax returns as mentioned above was put into operation by mid -March, as it was projected to be collected in the coming months.

(b) Better yield on this year’s tax collection (VAT, EFK, etc.) and the best income tax of the previous year’s income taxed in installments by the end of February 2025.

Specifically for the main taxes in this category, the following are observed:

  • VAT revenue amounted to € 10,995 billion and is increased by the target of € 271 million.
  • EUR 2,789 billion revenue and increased by the target of € 58 million.
  • Revenue revenue of real estate tax amounted to € 1,530 billion and increased by the target of € 139 million.

Income tax revenues amounted to € 9,167 billion and is increased by the target of EUR 967 million, of which: the income tax of natural persons is increased by EUR 817 million, the other income taxes increased by € 221 million, while the income tax of € 70 million by € 70 million. monthly installments of the previous financial year.

2. Revenue of the “Social contributions” category amounted to 25m euros, according to the target

3. Revenue of the “Transfers” category amounted to EUR 3,281 billion, reduced by EUR 2 million against the target included in the budget report of 2025.

EUR 1,346 billion was collected by the Recovery and Ruage Fund according to the target, while € 1.608 billion relates to RIP revenue, which is reduced by EUR 151 million against the target.

4. Revenue of the “Sales of Goods and Services” category amounted to EUR 1,450 billion and includes EUR 784.8 millionas mentioned above. Excluding this amount, the revenue of the major “sales of goods and services” amounted to € 665 million, up € 247 million against the target.

5. Revenue in the “Other Current Revenue” category amounted to EUR 1,079 billion, up EUR 78 million against the target included in the budget report of 2025. Of the above collected amount of EUR 1,079 billion, EUR 117 million relates to RIP revenue, which is reduced by EUR 3 million against the target.

Revenue refunds amounted to EUR 3,819 billion and incorporate the VAT refund of EUR 784.8 million from the Attica Road concession contract, as mentioned above, which is fiscal in 2024. If this amount is excluded, tax refunds amounted to EUR 344 billion and € 34 billion. (EUR 2,686 billion), included in the budget report of 2025.

The total revenue of the RIP amounted to EUR 1,725 ​​billion, reduced by EUR 154 million from the target (€ 1,880 billion), included in the 2025 budget report.

In May 2025, the total net revenue of the state budget amounted to EUR 5,909 billion, increased by EUR 1,403 billion against the monthly target, mainly due to the collection of the month of the Thursday of the Thursday by the Recovery and Revolution Fund, € 1.346 billion.

In particular, The revenue of the major categories of state budget are as follows:

1. Revenue of the “Taxes” category amounted to EUR 4,945 billion, increased by EUR 316 million or 6.8% against target. This increase mainly comes from the income tax of natural persons, because the application for the submission of tax returns was put into operation in mid -March.

Specifically for the main taxes in this category, the following are observed:

  • VAT revenue amounted to EUR 2,117 billion and is reduced by the target of € 5 million.
  • The revenue of the EFSC amounted to EUR 600 million and is reduced by the target of EUR 3 million.
  • Revenue revenue of real estate tax amounted to EUR 191 million and is reduced by the target by € 54 million.
  • Income tax revenue amounted to EUR 1,569 billion and increased by the target of EUR 312 million, mainly due to increased income tax revenue by 227 million euros, due to the earlier activation of taxation for the submission of tax returns.

2. Revenue of the “Social Contributions” category amounted to 5m euros, in accordance with the target.

3. Revenue of the “Transfers” category amounted to EUR 1,461 billion, up EUR 1,336 billion against the target included in the budget report of 2025due to the collection of the fifth tranche of EUR 1,346 billion, which was foreseen to be collected in April. EUR 95 million relates to RIP revenue, which is reduced by EUR 8 million against the target.

4. Total revenue in the “Sales of Goods and Services” category amounted to EUR 98 million, increased by EUR 25 million against the target.

5. Revenue of the “Other Current Revenue” category amounted to EUR 179 million, increased by EUR 27 million against the target included in the budget report of 2025. Of the above collection of EUR 179 million, EUR 9 million relates to RIP revenue, which is reduced by EUR 3 million against the target.

Revenue refunds amounted to EUR 778 million, up by € 301 million from the target (EUR 478 million).

The total revenue of the RIP of May amounted to EUR 104 million, reduced by € 11 million from the target (€ 115 million).

State budget expenditure for the period of January-May 2025 amounted to EUR 27,094 billion and are reduced by EUR 2,718 billion against the target (EUR 29,812 billion), included in the 2025 budget report.

In the regular budget, payments are reduced by the target by EUR 2,218 billion, mainly due to the delayed transfer payments to OKAs and other general government bodies by EUR 1,539 billion and the cash payments of the equipment programs by EUR 455 million.

It is noted that the above amounts do not affect the outcome of the General Government on budgetary terms.

Noteworthy transfers are as follows:

  • Transfers to Hospitals and EUR 588 million,
  • The transfer of EUR 400 million to cover the cost of providing utility services in the electricity sector (SGI), in accordance with article 55 of Law 4508/2017 (A ‘200),
  • The grant of EUR 290 million to the National Central Authority of Health Supplies (EKAPY) for the supply of pharmaceuticals, products and health services, on behalf of public hospitals,
  • Grants to the transport bodies (OASA, OASTH and OSE) of EUR 124 million, and
  • The grant to higher education institutions of EUR 113 million.

Investment expenditure payments amounted to EUR 3,729 billion, reduced by EUR 499 million compared to the target, which has been included in the 2025 budget report. At the same time, they are reduced by the corresponding payments of 2024 by EUR 685 million.

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