A primary surplus of €2.721 billion was recorded on a modified cash basis, against a target of a primary surplus of €2.029 billion, recorded in the data on the execution of the State Budget in January-February 2025.

Tax revenues amounted to EUR 11.901 billion and are up by EUR 527 million, or 4.6%, against the target included in the 2025 Budget 2025

Specifically, as announced by the Ministry of National Economy and Finance:

According to the provisional data on the implementation of the State Budget, on a modified cash basis, for the period January – February 2025, there is a surplus in the State Budget balance of 629 million euros against the target of a deficit of 51 million euros included for the corresponding period of 2025 in the 2025 Budget Report and a surplus of 1,437 million euros in the corresponding period of 2024. The primary balance on a modified cash basis was a surplus of EUR 2,721 million, against a target for a primary surplus of EUR 2,029 million and a primary surplus of EUR 3,378 million for the same period in 2024. It should be noted that an amount of EUR 468 million related to a deferral of payments of the regular budget and an amount of EUR 473 million related to a deferral of payments of the Public Investment Program do not affect the outcome of the General Government in fiscal terms.

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 Administration and not to the General Government as a whole, which includes the fiscal results of the Legal Entities and the sub-sectors of the OTAs and OKAs.

In the period January – February 2025, the amount of net revenues of the state budget amounted to 11,663 million euros, representing an increase of 90 million euros or 0.77% compared to the target included for the same period in the 2025 Budget’s explanatory report. It should be noted that this amount includes, both in revenues (in the category “Sales of goods and services”) and in tax refunds (VAT), the amount of 784.8 million euros from the transactions required to be made in the month of January 2025 for the completion of the new Concession Contract of Attiki Odos, which relate to the year 2024 and are budget neutral.

Tax revenues amounted to €11,901 million and are up €527 million or 4.6% against the target included in the 2025 Budget’s explanatory report. It should be noted that most of the tax revenues in the January-February biennium affect in fiscal terms the year 2024.

The exact allocation between the state budget revenue categories will be made when the final report is issued.

Revenue refunds amounted to EUR 1,859 million and incorporate the VAT refund amount of EUR 784.8 million from the new Attiki Odos Concession Contract, as mentioned above, which in fiscal terms affects the year 2024. If this amount is excluded, tax refunds amount to EUR 1,074 million and are EUR 168 million lower than the target (EUR 1,242 million) included in the 2025 Budget’s explanatory report.

Total revenues of the Public Investment Program (PIP) amounted to EUR 166 million, down by EUR 629 million from the target (EUR 795 million), which has been included in the 2025 Budget Report.

In particular, in February 2025, total net revenues of the State Budget amounted to EUR 5,672 million, up by EUR 196 million against the monthly target.

Tax revenues amounted to EUR 6,022 million, up EUR 214 million or 3.7% against the target.

Revenue refunds amounted to EUR 651 million, down EUR 76 million from the target (EUR 727 million).

Public Investment Budget (PIB) revenues amounted to EUR 71 million, down EUR 44 million from the target (EUR 115 million).

State Budget expenditure for the January-February 2025 period amounted to EUR 11,034 million, down by EUR 590 million compared to the target (EUR 11,625 million), which has been included in the 2025 Budget Report. They are also reduced, compared to the corresponding period in 2024, by EUR 176 million.

In the Ordinary Budget component, payments are presented lower than target by EUR 246 million. Excluding the shown difference in appropriations under allocation of EUR 343 million, which do not correspond to payments but to transfers of appropriations to the other categories from which payments are made, the difference in payments against the target amounts to EUR 97 million.

The difference between the amount of payments made by the Commission and the amount of payments received by the Member States is less than the amount of the budgeted amount of 97%.
Payments under the investment expenditure component amounted to EUR 1,339 million, down by EUR 344 million compared to the target included in the 2025 Budget’s explanatory memorandum. At the same time, they are presented lower than the corresponding payments in 2024 by EUR 716 million.