FINANCE

Tax revenues beat target in October, covering half of new measures’ cost

tax-revenues-beat-target-in-october-covering-half-of-new-measures-cost

October tax revenues beat their 2022 budget target by 164 million euros or 0.4%, according to the definitive data on the execution of this year’s budget released on Thursday.

This overshoot covers almost half of the new support measures aimed at alleviating the pressure on citizens from the recent price hikes that the prime minister announced in Parliament on Monday, amounting to €338.5 million; those measures have not been included in the 2022 draft budget.

Therefore, if revenues continue on this positive course for the rest of 2021, the sum of the measures may be covered in its entirety, leaving the primary deficit at the forecast level of 7.3% of GDP.