The state budget showed a primary deficit of 9.06 billion euros in the year’s first 10 months, according to provisional figures released yesterday by the State General Accounting Office, compared to the revised target for a primary deficit of €9.69 billion. The comparison is made with the new assumptions included in the 2021 draft budget, which explains the small difference, as the figures have been adjusted in line with the expected impact from the pandemic.
The budget’s net revenues came to €38.41 billion in January-October, €53 million more than the estimate included in the 2021 budget, thanks to more takings than expected from value-added tax (by €10 million), the special consumption tax on energy products (by €13 million), regular property taxes (by €31 million), including the Single Property Tax (ENFIA), and the corporate income tax (by €35 million). Tax rebates amounted to an on-target €4.58 billion, which illustrates the Finance Ministry’s resolve to bolster the liquidity of enterprises and freelance professionals.
Budget spending in January-October amounted to €51.86 billion, €621 million below the 2021 budget estimate.