Primary budget surplus of 3.38 billion euros
The state budget primary balance on a modified cash basis amounted to a surplus of 3.38 billion euros in January and February, against the primary surplus target of €1.98 million, according to the Finance Ministry.
Tax revenues amounted to €11.31 billion, €858 million or 8.2% higher than the target which is included in the 2024 budget introductory report. This overperformance is mainly thanks to the better performance of the previous year’s income taxes of natural and legal persons collected in installments until the end of February 2024, as well as the better performance in the collection of the current year’s taxes (VAT, excise taxes etc).
The state budget balance for the period of January-February 2024 presented a surplus of €1.437 billion, against a target for a surplus of €101 million that has been incorporated for the same period of 2024 in the budget’s introductory report and a surplus of €2.31 billion for the same period of 2023.
