What taxes supported government coffers
Primary surplus over 6 billion euros, the budget showed in the 10 months of January-October 2023, with tax revenues recording an increase above the target foreseen in the introductory report of the 2024 budget.
According to the execution data of the state budgeton a modified cash basis, for the period January – October 2023, there is a deficit in the state budget balance of 482 million euros against a target for a deficit of 962 million euros included for the corresponding period of 2023 in the introductory report of the 2024 Budget and a deficit of 4,770 million euros in the corresponding period of 2022. The primary result was a surplus of 6,080 million euros, compared to a target for a primary surplus of 5,607 million euros and a primary deficit of 350 million euros for the same period in 2022, mainly due to different timing cash payments of the equipment programs of the Ministry of National Defense.
In the period January – October 2023, the amount of net revenues of the state budget amounted to 53,925 million euros, showing an increase of 49 million euros compared to the target included for the corresponding period in the introductory report of the 2024 Budget.
The total revenues of the state budget amounted to 59,474 million euros, increased by 49 million euros or 0.1% against the target.
More specifically, the revenues of the major categories of the state budget are as follows:
I. Tax revenues amounted to 50,718 million euros, increased by 33 million euros or 0.1% compared to the target included in the introductory report of the 2024 Budget.
Especially for the main ones taxes of this category the following are observed:
- VAT revenues amounted to 19,585 million euros and are increased against the target by 2 million euros.
- The revenues of EFFK amounted to 5,806 million euros and are increased against the target by 8 million euros.
- Real estate tax revenues amounted to 2,235 million euros and are up against the target by 1 million euros.
- Income tax revenues amounted to 16,934 million euros and are up against the target by 15 million euros.
II. The revenues of the “Social Contributions” category amounted to 48 million euros in line with the target.
III. The revenues of the “Transfers” category amounted to 5,098 million eurosincreased by 4 million euros compared to the target included in the introductory report of the 2024 Budget. Of the above collected amount of 5,098 million euros, an amount of 2,545 million euros concerns PDE revenues, in accordance with the target.
IV. The revenues of the “Sales of goods and services” category amounted to 734 million eurosincreased by 7 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 2,871 million euros in accordance with the target included in the introductory report of the 2024 Budget. Of the above collected amount of 2,871 million euros, an amount of 265 million euros concerns PDE revenue, which is increased by 2 million euros compared to the target.
Revenue returns were €5,550m in line with target.
The total revenue of the Public Investment Budget (PDE) amounted to 2,810 million euros, increased by 2 million euros from the target (2,808 million euros).
For the month of October 2023, the state budget revenues show the same changes presented above on a cumulative basis and are as follows:
The total net revenues of the state budget amounted to 5,628 million euros. The total revenues of the state budget amounted to 6,193 million euros.
More specifically, the revenues per major category of the state budget for October 2023 are as follows:
I. Tax revenues amounted to 5,802 million euros.
In particular, the following are observed for the main taxes of this category:
- VAT revenues amounted to 2,384 million euros.
- The revenues of the EFCs amounted to 614 million euros.
- Real estate tax revenues amounted to 149 million euros.
- Income tax revenues amounted to 2,016 million euros.
II. The income of the “Social Contributions” category amounted to 5 million euros.
III. The revenues of the “Transfers” category amounted to 118 million eurosof which an amount of 107 million euros concerns PDE revenues.
IV. The revenue of the “Sales of goods and services” category amounted to 95 million euros.
V. The income of the “Other current income” category amounted to 169 million eurosof which an amount of 2 million euros concerns PDE revenues.
Revenue returns amounted to €564 million.
The total revenues of the Public Investment Budget (PIB) amounted to 109 million Euros.
The expenses of the State Budget for the period January – October 2023 amounted to 54,406 million euros and are presented reduced by 430 million euros compared to the target (54,837 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 767 million euros, mainly due to increased interest expenses by 2,132 million euros, taking into account countervailing changes in other categories of expenses.
In the section of the Regular Budget, the payments are shown reduced compared to the target by 464 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 548 million euros.
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 segment amounted to 7,730 million euros, showing an increase of 34 million euros. The expenditure of the PDE includes an amount of 116 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.
