Greek state budget records primary deficit of 9.1 billion euros in Jan-June

Greek state budget recorded a primary deficit of 9.093 billion euros in the January-June period this yea,r down from a budget target for a shortfall of 9.919 billion euros, but from a deficit of 6.101 billion in the corresponding period in 2020.

The general government balance showed a deficit of 12.221 billion euros in the six-month period, down from a budget target for a deficit of 12.950 billion and a deficit of 9.232 billion the same period in 2020.

Net revenue was 21.971 billion euros in the six-month period, up 0.4% from targets, while regular budget revenue was 24.039 billion euros, up 0.4% from targets. Tax revenue were 20.140 billion euros, up 0.4% from targets. More specifically, budget revenue exceeded targets in the categories of: VAT (0.6%), special consumption tax on tobacco (1.1%), taxes on financial and capital transactions (11.6%), vehicle registration (7.5%),other taxes on services (5.5%), other taxes on goods (167.5%) and transfers (1.7%). On the other hand, tax revenue fell short of targets in the categories of: income tax (0.3%), corporate income tax (8.60, other income taxes (3.4%), other current revenue (1.6%).

Tax returns totaled 2.068 billion euros, matching budget targets, while Public Investment Program revenue were 2.071 billion euros, up 17 million from targets.

Budget spending totaled 34.192 billion euros in the January-June period, down 1.8% from targets and up by 5.965 billion euros compared with the same period last year.

In June, budget revenue totaled 3.697 billion euros, up 52 million from monthly targets, while regular budget revenue amounted to 4.12 billion euros billion euros, up 52 million euros from targets. Tax proceeds totaled 3.281 billion euros, up 1.4% from monthly targets, tax returns were 424 million and Public Investment Program revenue was up 17 million euros to 389 million euros.