At a surplus of 2,954 million euros, the primary result on an adjusted cash basis was formed, against a target of a primary surplus of 2,133 million euros and a primary surplus of 3,079 million euros for the same period in 2023.
According to the provisional data on the execution of the state budget, on a modified cash basis, for the period January – March 2024, there is a deficit in the balance of the state budget of 77 million euros against a target for a deficit of 817 million euros included for the corresponding period of 2024 in the introductory report of the 2024 Budget and a surplus of 220 million euros in the corresponding period of 2023.
It is noted that most of the difference in the primary surplus against the target in cash terms is not counted in the 2024 primary result in fiscal terms.
Indicatively, an amount of 159 million euros relating to revenues from the Recovery and Resilience Fund does not affect the result in fiscal terms, while a significant part of the difference in tax revenue collections of 647 million euros is counted in the fiscal result of the year 2023. Therefore the primary result in fiscal terms differs significantly from the result in cash terms. In addition, it is pointed out that the above refers to the primary result of the Central Administration and not to the whole of the General Government, which also includes the fiscal results of Legal Entities and the sub-sectors of OTAs and OKAs.
The first trimester
In the period January – March 2024, the amount of net revenue of the state budget amounted to 16,790 million euros, presenting an increase of 398 million euros or 2.4% compared to the target included for the corresponding period in the introductory report of the 2024 Budget However, the collection of 1,797 million euros from the Recovery and Resilience Fund (TAA) was included in the target of the report, while the amount of 159 million euros has been collected.
Excluding the amount from TAA, net income shows an increase of 2,036 million euros or 14% against the target. This increase is mainly due to: a) increased tax revenues by 654 million euros after deduction of refunds and b) increased PDE revenues by 1,029 million euros.
Tax revenues amounted to 14,920 million euros, increased by 674 million euros or 4.7% compared to the target included in the introductory report of the Budget 2024. This overperformance comes mainly from the better performance of natural and legal income taxes of persons from the previous year that were collected in installments until the end of February 2024, as well as the best performance in the collection of the current year’s taxes (VAT, VAT, etc.).
Revenue returns amounted to €1,719 million, up €20 million from the target (€1,698 million).
The revenues of the Public Investment Program (PIP) amounted to 2,336 million euros, increased by 1,029 million euros from the target (1,307 million euros).
The exact distribution between the revenue categories of the state budget will be carried out with the publication of the final bulletin.
March
In particular, in March 2024 the total net revenues of the state budget amounted to 4,143 million euros, reduced by 1,172 million euros compared to the monthly target, due to the non-collection of an amount of 1,797 million euros from the Recovery and Resilience Fund (RAF). , According to the above. Excluding this, net income shows an increase of 625 million euros, which is mainly due to a decrease of 414 million euros in revenue refunds due to the timing of their occurrence, as high amounts of refunds were made in the month of February, while they were forecast for the month of March.
Tax revenues amounted to €3,611 million, down €184 million or 4.8% on target.
Revenue returns totaled €511 million, down €414 million from the target (€925 million).
The revenues of the Public Investment Budget (PDE) amounted to 704 million euros, increased by 278 million euros from the target (426 million euros).
The expenses of the State Budget for the period January – March 2024 amounted to 16,867 million euros and are presented reduced by 343 million euros compared to the target (17,210 million euros), which is included in the introductory report of the 2024 Budget. They are also increased , in relation to the corresponding period of 2023, by 245 million euros, due to increased investment costs by 783 million euros.
In the part of the Regular Budget, the payments are shown reduced compared to the target by 1,007 million euros. This development is mainly due to the deferral of transfer payments to OKA by 523 million euros and the deferral of cash payments of the equipment programs of the Ministry of National Defense by 320 million euros. Conversely, i.e. incrementally in relation to the target, interest payments moved by 106 million euros and grants to other legal entities by 227 million euros. More specifically, 110 million euros were given by the Ministry of Rural Development and Food to ELGA, for the compensation of agricultural holdings affected by flooding due to the DANIEL-ELIAS disasters in September 2023, 78 million euros from the Ministry of Infrastructure and Transport as grant to transport agencies (OASA, OASTH and OSE) and 69 million euros from the Ministry of Health as a grant to the National Central Health Procurement Authority (EKAPY) to cover the cost of supplying medicines for the needs of the NHS and General Hospitals . Papageorgiou.
Payments under the investment expenditure arm amounted to EUR 2,812 million, showing an increase of EUR 665 million compared to the target, as the target was exceeded in both the PDE and the Recovery and Resilience Fund.
Source OT
#Budget #Surplus #million #euros #quarter
