A primary surplus of 5.175 billion euros was recorded in the budget in the first quarter of this year, against a target for a primary surplus of 2.298 billion euros and a primary surplus of 5.148 billion euros for the same period in 2025, as announced by the Ministry of Economy and Finance.
According to the Ministry, by excluding an amount of EUR 197 million relating to the deferral of payments to armament programmes, an amount of EUR 593 million relating to the deferral of investment payments and an amount of EUR 249 million relating to the deferral of capital grants and transfer payments to general government entities, which do not affect the outcome of the general government in budgetary terms, as well as an amount of EUR 135 million relating to the deferral of payments to the general government, the Ministry has excluded an amount of EUR 593 million relating to the deferral of investment payments and an amount of EUR 249 million relating to the deferral of capital grants and transfer payments to general government entities, which do not affect the outcome of the general government in budgetary terms, as well as an amount of EUR 135 million relating to the deferral of payments to the general government. EUR 135 million from the second instalment of the price for the concession of the casino business in Hellinikon which is recorded in budgetary terms during the years of the concession, an amount of EUR 884 million from early revenues of the CDF and an amount of EUR 461 million related to early cash revenues of the MFF, the excess in the primary outcome on an amended cash basis over the budget targets amounts to EUR 358 million.
It should be noted that the primary outcome in budgetary terms differs from the outcome in cash terms. In addition, the above refers to the primary result of the central government and not to the general government as a whole, which includes the financial results of the legal entities and the sub-sectors of the local authorities and local government units.
It is noted that the January revenue this year included the amounts from the transactions required for the completion of the Concession Contract for the financing, operation, maintenance and exploitation of the Egnatia Motorway and its three vertical roads for 35 years, which was ratified by Law No. 5260/2025 (Α’ 229).
Specifically:
-€306 million relating to the VAT 24% on the transaction price, refunded by the concessionaire to the Greek State, recorded under the category «Taxes» and accompanied by an equivalent tax refund.
-Subsequently, the same amount of EUR 306 million was reattributed to the Greek State and recorded under the category «Sales of goods and services».
In the period January-April 2026, the amount of net revenues of the state budget amounted to 25.165 billion euros, an increase of 2.1 billion euros compared to the target included for the corresponding period in the 2026 budget proposal. This over-execution is mainly due to the collection on 23 April of the seventh instalment from the Recovery and Resilience Fund (RDF) of EUR 884 million, which was foreseen to be collected in June 2026, as well as to the increased revenue of EUR 461 million from the MFF.
Tax revenues amounted to EUR 22.743 billion and include: (a) the amount of EUR 306 million from the Egnatia Highway Concession Agreement, as mentioned above, and (b) the amount of EUR 135 million from the second instalment of the price for the concession of the casino license in Elliniko, which was scheduled to be collected at the end of 2025. If the above amounts are excluded, tax revenues amounted to EUR 22.302 billion, down by EUR 39 million or 0.2% against the target.
Revenue refunds amounted to EUR 2.601 billion, up by EUR 206 million from the target (EUR 2.395 billion) included in the 2026 budget proposal, due to the VAT refund of EUR 306 million from the Egnatia Odos Concession Contract, as mentioned above.
Public Investment Programme (PIP) revenues amounted to €2.311 billion, an increase of €461 million compared to the target (€1.85 billion) included in the 2026 budget proposal.
Specifically, in April, total net state budget revenues amounted to EUR 6.657 billion, up by EUR 1.414 billion against the monthly target, mainly due to the receipt in April of EUR 884 million from the Recovery and Resilience Fund, as mentioned above, as well as the increased revenue from the MFF by EUR 260 million.
Tax revenues amounted to EUR 5.561 billion, up by EUR 94 million or 1.71TTP3T against the target.
Revenue refunds amounted to EUR 673 million, EUR 21 million higher than the target (EUR 652 million).
Public Investment Budget (PIB) revenues amounted to EUR 380 million, up by EUR 260 million compared to the target (EUR 120 million).
State Budget expenditure for the period January-April 2026 amounted to EUR 23.287 billion and is presented EUR 686 million lower than the target (EUR 23.974 billion), which was included in the 2026 Budget Report. They are also increased compared to the corresponding period in 2025 by EUR 2.078 billion.
On the Ordinary Budget side, payments appear to be EUR 93 million lower than targeted.
Notable transfers are the following:
Ι. The grant to the National Health Service Agency of €825 million,
II. The subsidy to the Social Security Institution for Social Security Benefits of EUR 869 million,
III. The grant of 424 million euros to the National Central Health Procurement Authority (NCHA) for the procurement of pharmaceutical preparations, products and health services on behalf of public hospitals,
IV. Transfers to hospitals and primary health care amounting to EUR 494 million,
V. Grants to transport operators (OASA, OASΘ and OSE) amounting to EUR 141 million,
VI. The €131 million grant to the Information Society for the payment of the FUEL PASS.
Payments in the investment expenditure part of the budget amounted to €2.938 billion, down by €593 million compared to the target included in the 2026 budget proposal. However, they show an increase compared to the corresponding payments in 2025 by EUR 327 million.
