Greek Budget: Primary deficit of 1.687 billion in the first quarter of 2022

A deficit of 1,687 million euros, against a target for a primary deficit of 1,331 million euros was recorded by the state budget in the period January - March 2022. Tax revenues amounted to 12,144 million euros, increased by 1,337 million euros or 12.4% against the projected target. According to the Ministry of Finance, this windfall is due to the extension of the deadline for payment of road tax until the end of February 2022, to the better return of the previous year taxes collected in installments at the end of February 2022, as well as because of the better performance in the collection of taxes of the current year. In March 2022, the total net revenues of the state budget amounted to 2,952 million euros, reduced by 416 million euros compared to the monthly target due to the reduced revenues of the Public Investment Budget .

Skylakakis: Revenue rise in March despite the climate due to war

Deputy Finance Minister Theodoros Skylakakis said that "the good course of public revenues continued in March, despite the negative effects on the economic climate from the war waged by Russia against Ukraine. Tax revenue was up 511m euros, or 17.5% over target, which offset the very high revenue returns which were up by 321m euros vis-à-vis the target." He stressed that "in the coming days, Eurostat data for the 2021 deficit are expected, which are estimated to be significantly better than the budget forecast. According to the calculations of the General Accounting Office, the improvement will probably reach or even exceed 1.5 GDP points." According to the Deputy Minister, this development is extremely important as it confirms to institutions and markets the prudent management of public finances and allows the rational additional support of households and...