State Budget primary surplus rises to €6.53 billion due to higher tax revenues in Jan-Aug. 2026

There was a significant boost to tax revenues in August, which helped generate a primary surplus of € 6.53 billion in the state budget in the first eight months of 2026, according to figures for the execution of the State Budget on a modified cash basis released by the Ministry of National Economy and Finance on Friday.

The final figures released by the ministry show that the greatest support came from VAT and income tax revenue, while confirming a trend for higher prices and higher salaries continued in August.
According to the ministry’s figures, the State Budget balance for the period January-August 2026 presented a deficit of € 475 million, against the target of a deficit of € 1.611 billion that has been incorporated for the same period of 2026 in the 2026 Budget Introductory Report and a surplus of € 1.964 billion for the same period of 2025. The State Budget Primary Balance on a modified cash basis amounted to a surplus of € 6.534 billion, against the primary surplus target of € 4.989 billion and the primary surplus of € 8.499 billion performed during the same period of the previous year.
Tax revenues exceeded the eight-month target by € 1.35 billion, with the exclusion of one-off amounts such as the € 306 million from the Concession Agreement for Egnatia Odos and the € 135 million from the second installment of the payment for granting an operating license for a casino business in Elliniko,

Excluding an amount of € 573 million relating to time differentiation of PIB payments and an amount of € 618 million relating to time differentiation of transfers to General Government entities, which do not affect the General Government’s result in fiscal terms, as well as, an amount of € 135 million from the 2nd installment of the price for granting the license to operate a casino in Elliniko, the over execution in the primary balance on a modified cash basis, in comparison to the budget targets is € 219 million.

For the period January-August 2026, State Budget net revenues amounted to € 51.351 billion, showing an increase of € 2.331 billion against the target of the corresponding period, which is included in the 2026 Budget introductory report. However, the target of the Budget Introductory Report included an amount of € 1.258 billion from the Recovery and Resilience Facility (RRF), of which € 884 million was collected earlier, in April, while the remaining amount of € 374 million is expected to be collected during the current year. Excluding the RRF amount, net revenues increased by € 2.705 billion against the target.

Tax revenues amounted to € 49.481 billion included the amount of € 306 million from the Concession Agreement for Egnatia Odos and the amount of € 135 million from the second installment of the payment for granting an operating licence for a casino business in Elliniko, which was originally scheduled for collection at the end of 2025. Excluding the above amounts, tax revenues amounted to € 49.040 billion, or € 1.353 billion (2.8%) higher than the target.

The highest surplus was in VAT revenues, which amounted to € 20.544 billion and, excluding the € 306 million of the Concession Agreement, exceeded the target by € 905 million.

Income tax revenues amounted to € 17.681 billion, or € 439 million higher than the target, of which: The Personal Income Tax (PIT) increased by € 433 million while the Corporate Income Tax (CIT) decreased by € 9 million and the Other Income Tax revenues increased by € 15 million, against the target.
Excise tax revenues amounted to € 4.662 billion, € 230 million lower than the target.
Property tax revenues amounted to € 1.978 million, € 62 million higher than the target.
In other categories, Social Contributions amounted to € 36 million, € 4 million lower against the target, while transfers amounted to € 4.493 billion, € 67 million lower than the target. Out of this amount, € 3.113 billion relates to PIB revenues, which are € 98 million higher than the respective target.
Sales of goods and services amounted to € 1.404 billion and included the amount of € 306 million, from the Concession Agreement for Egnatia Odos, as mentioned above. Excluding this amount, the revenues amounted to € 1.098 billion, € 273 million higher than the target.
Other current revenues amounted to € 2.036 billion , € 487 million higher than the target. An amount of € 312 million comes from PIB revenues, which are € 207 million higher than the respective target.

Figures for August

Specifically in August 2026, the State Budget net revenues amounted to € 6.093 billion, € 305 million higher than the monthly target. Tax revenues amounted to € 6,687 million, € 363 million or 5.7% higher than the target.

VAT revenues amounted to € 2.804 billion, € 166 million higher than the target. Excise tax revenues amounted to € 698 million, € 6 million lower than the target. Property tax revenues amounted to € 117 million, € 8 million higher than the target.
Income tax revenues amounted to € 2.607 billion, € 146 million higher than the target, of which, the PIT was increased by € 87 million, the CIT was decreased by € 29 million, and the Other Income Taxes were increased by € 87 million against the target.
Social Contributions amounted to € 5 million, € 1 million lower, against the target.
Transfers amounted to € 275 million, € 159 million lower than the target. Of this amount, € 226 million related to PIB revenues, which were € 176 million lower than the target.
Sales of goods and services amounted to € 88 million, increased by € 17 million against the target.
Other current revenues amounted to € 169 million, € 32 million higher than the target. Of this amount, € 24 million related to PIB revenues, which were € 16 million higher than the target.
Tax refunds amounted to € 1,130 million, € 53 million lower than the target ( € 1,183 million).
PIB total revenues amounted to € 250 million, € 160 million lower than the target ( € 410 million).
State Budget expenditures for the period January-August 2026 amounted to € 51.825 billion, € 1.195 billion higher than the target ( € 50.630 billion), which is included in the 2026 Budget Introductory Report, mainly due to the acceleration of the RRF payments. They were also increased in comparison to the respective period of 2025 by € 5.331 billion.
In the Ordinary Budget, payments were decreased by € 204 million compared to the target.

amna.gr