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Appeal of YPOIK to companies for price restraint

By Tasos Dasopoulos

Increased by 341 million euros against the target are recorded tax revenues in October, continuing the good course they showed for the first time in September with the normalization of payments of tax liabilities for 2021.

In the ten months of January-October, tax revenues exceeded the target by 1,236 million euros compared to the target, while in the total budget revenues they recorded a decrease of 456 million euros due to the post-dating for the next year of installment amounting to 1718 million euros. that it will be collected in October.

The primary balance showed a deficit of 7,204 million euros, compared to a target for a primary deficit of 7,272 million euros and a primary deficit of 9,065 million euros for the same period in 2020.

Deputy Minister of Finance Mr. Thodoros Skylakakis, commenting on the execution of the budget in October, spoke of a good month for tax revenues that increased by 341 million euros or 7.4% against the monthly target. “It is clear that the economy is on a dynamic recovery trajectory, which is confirmed by the European Commission’s forecasts and is accompanied by a significant reduction in unemployment.”

ANYPOIK due to the situation also gave a message to companies and the rise in inflation “Increases in the prices of fuel and raw materials, which create significant problems during this period, should be addressed by companies with particular restraint in everything, “As for the transfer of the relevant costs to consumer prices” said Skylakakis to continue, saying that in their decisions they should take into account that they have before them a period of dynamic growth which we will enter from 2022 and in the coming years, which Under no circumstances should we risk drifting into the vicious circle of inflationary expectations.

More specifically, in the 10 months the amount of net revenues of the state budget amounted to 44,131 million euros, showing a decrease of 338 million euros or 0.8% compared to the estimate for the corresponding period included in the explanatory report of the MTEF 2022-2025.

However, the target of the MTEF was the collection in October 2021, a tranche from the Recovery and Resilience Fund (RRF) of 1,718 million euros, which is postponed to next year. Excluding this, net income increased by € 1,380 million or 3.1% against the target despite the reduced revenue of the EDP.

The total revenues of the state budget amounted to 47,944 million.
reduced by EUR 456 million or 0.9% against the target. Excluding the above amount from the RRF, total revenue is € 1,262 million higher than the target.

Revenues from taxes amounted to 38,642 million euros, increased by 1,236
million or 3.3% against the target included in the explanatory report of the MTEF 2022-2025. This excess is mainly due to the increased revenues of income tax of natural and legal persons concerning the declarations of the tax year 2020 as well as the increased VAT revenues which are estimated to have come mainly from the increased tourist traffic.

Revenue recoveries amounted to € 3,812 million, down € 118 million from the target (€ 3,930 million). Revenues from the Public Investment Budget (PIP) amounted to € 3,551 million, down € 491 million from the target.


In particular, in October 2021 the total net revenue of the state budget amounted to 4,681 million euros, reduced by 1,696 million euros compared to the monthly target because the tranche from the Recovery and Resilience Fund (RRF) amounted to 1,718 million euros initially projected to be collected in October 2021, eventually shifted in time to next year. Therefore, excluding this, net revenues show an increase of 22 million euros compared to the target included in the explanatory report of the MTEF 2022-2025.

Total state budget revenues amounted to € 5,174 million, down from the monthly target of € 1,606 million, but excluding the RRF-shifted installment above, total revenues increased by € 112 million over the target included in the explanatory report of the MTEF 2022-2025.

Tax revenue was € 4,963 million, up € 341 million or 7.4% from the monthly target, due to the same reasons given above on a cumulative basis.

Revenue returns for October 2021 amounted to 493 million euros, an increase of 90 million euros against the monthly target (403 million euros).

PDE revenues amounted to 54 million euros, reduced by 194 million.
euro against the monthly target.


The State Budget expenditures for the period January – October 2021 amounted to 55.653 million euros and are reduced by 392 million euros or 0.7% compared to the target (56.045 million euros), which is included in the explanatory report of the MTEF. 2022- 2025.

In the part of the Regular Budget, there is an exceedance of the target in the category of transfers, which is mainly due to increased grants to OKA by 677 million euros.

In addition, payments intended to service the relevant contracts of the armament programs of the Ministry of National Defense (category of acquisition of fixed assets) were accelerated. Compared to the initial target, they increased by 471 million euros.

Payments on investment expenditures decreased
compared to the target by EUR 479 million.

The state budget expenditures for the period January – October 2021 are increased compared to the corresponding period of 2020 by 3,791 million euros, mainly due to the increased expenditures for measures against the pandemic and the increased payments of armaments programs in the regular budget. .


Source From: Capital

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