Tax revenues in Greece exceeded targets by 1.3 billion euros in the first two months of 2023, according to preliminary data on the implementation of the state budget on a modified cash basis, BTA reported.

Part of this €470 million increase is due to the delayed payment of car taxes due in December 2022.

Commenting on the budget execution data, Deputy Finance Minister Theodore Skilakakis said that continued higher tax collections increase the resilience of the economy and confirm the strong growth potential of government policies.

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Greece's state budget reported a surplus of 2.294 billion euros in the January-February period, against the budget target of a surplus of 36 million and a deficit of 910 million euros for the same period last year.

The primary result shows a surplus of €4.201 billion against the target of a primary surplus of €1.816 billion for a primary surplus of €840 million in the corresponding period of 2022. Net income was €12.950 billion, a 17.7% increase over targets.

Tax revenue was €10.047 billion, 15% above target, and tax return receipts were €784 million, €104 million above target.

Revenues from the public investment program totaled €1.415 billion, €630 million above targets.

Budgetary expenditure totaled 10.656 billion euros, which is 311 million less than the targets, but 893 million more than the same period last year.

Expenditure under the regular budget was €141 million short of targets, and public investment program spending totaled €1.319 billion, €170 million short of target.

In February, budget revenue totaled €5.784 billion, €1.372 billion above target, while regular budget revenue was €6.123 billion, €1.292 billion above target.

Tax revenue was €5.119 billion, up 17.9% on target, tax return receipts were €339 million, down €80 million on target, and public investment program revenue was €814 million, which is 544 million more than the targets.

Greece

budget surplus