ECONOMY

Greek budget tax revenue up 7.4% in Oct

greek-budget-tax-revenue-up-7-4-in-oct

State budget tax revenue was 7.4% above the budget target in October, totaling 4.963 billion euros, the Finance Ministry said on Monday, with tax revenue amounting to €38.642 billion in the 10-month period from January to October, 3.3% higher than the target.

Commenting on the budget figures, Alternate Finance Minister Thodoros Skylakakis said: “October was a good month for tax revenue. It is clear that the economy is on a dynamic recovery course, as confirmed by the European Commission’s estimates, accompanied by a significant reduction of unemployment.”

The state budget recorded a deficit of €11.522 billion in the January-October period, on an amended cash basis, slightly below the budget target for a deficit of €11.576 billion and compared to a shortfall of €13.451 billion in the same period last year.

The state budget recorded a primary deficit of €7.204 billion, compared to a budget target for a deficit of €7.272 billion and a deficit of €9.065 billion in 2020.

Net revenue was €44.131 billion, 0.8% below the budget target, with regular budget revenue totaling €47.944 billion, 0.9% below the target.

Tax returns totaled €3.812 billion, €118 million below the budget target, while Public Investment Program revenue was at €3.551 billion, €491 million below the target.