Budget 2022: ‘Jump’ 11% for total revenue in the first 6 months

Increased by 2,875 million euros or 11% against the target are the total revenues of the state budget, at 28,950 million euros, while according to the provisional data of the execution of the state budget, on a modified cash basis, for the period January – June 2022 , there is a deficit in the budget balance of 6,552 million euros against a target for a deficit of 7,981 million euros for the corresponding period of 2022 and a deficit of 12,221 million euros for the corresponding period of 2021.

The primary outcome was modeled on a deficit of 3,429 million euros, against a target for a primary deficit of 4,896 million euros and a primary deficit of 9,093 million euros for the same period in 2021.

The amount of net income of the state budget amounted to 26,255 million euros, showing an increase of 2,075 million euros or 8.6% compared to the estimate for the corresponding period included in the introductory report of the 2022 Budget, despite the reduced revenues of the PDE.

The tax revenue amounted to 24,731 million euros, increased by 3,642 million euros or 17.3% compared to the target included in the introductory report of the Budget 2022. This over-execution is due to the extension of the deadline for the payment of traffic fees until the end of February 2022, in better performance of the previous year’s taxes collected in installments until the end of February 2022, to the better performance in the collection of the current year’s taxes, as well as the collection of the first and second installments of ENFIA during the months of May and June while it was foreseen that they will be collected in the months of September and October respectively.

The revenue returns amounted to 2,695 million euros, increased by 799 million euros from the target (1,895 million euros).

The total revenue of Public Investment Budget (PDE) amounted to 1,262 million euros, reduced by 808 million euros from the target (2,070 million euros).

The exact distribution between the revenue categories of the state budget will be carried out with the publication of the final bulletin.

In particular, in June 2022 the total net revenues of the state budget amounted to 3,969 million euros, increased by 190 million euros in relation to the monthly target, despite the reduced revenues of the PDE.

The total revenues of the state budget amounted to 4,483 million euros, increased by 415 million euros compared to the estimate for the corresponding period included in the introductory report of the 2022 Budget.

Tax revenues amounted to €4,117 million, up by €799 million or 24.1% against target, due to better performance in the current year’s tax collection, as well as collection of the second installment of the ENFIA that had been foreseen that it will be collected in the month of October, as mentioned above.

Revenue returns totaled €515m, up €226m on target (€289m).

The total revenue of the Public Investment Budget (PDE) amounted to 156 million euros, reduced by 344 million euros compared to the target (500 million euros).

The expenditures of the State Budget for the period January – June 2022 they amounted to 32,807 million euros and are presented increased by 646 million euros compared to the target (32,161 million euros), which has been included in the introductory report of the 2022 Budget.

In the section of the Regular Budget, the payments are shown reduced compared to the target by 368 million euros. This development is mainly due to the postponement of the payments of the equipment programs by 567 million euros. Payments for collateral forfeitures are also reduced by 345 million euros. On the contrary, increased payments in relation to the objectives are observed mainly in grants to OKA (by 563 million euros).

Payments in the investment expenditure arm amounted to 4,580 million euros, showing an increase of 1,014 million euros compared to the target of 3,566 million euros.

The provisional picture of the main payments of expenses related to anti-pandemic measures for the period January – June is as follows:

a) the support of small and very small businesses affected by COVID-19 in the Regions in the amount of 160 million euros from the PDE,

b) the public contribution for the repayment of business loans of affected borrowers amounting to 76 million euros from the PDE,

c) the working capital subsidy for tourism businesses amounting to 42 million euros from the PDE,

d) the special purpose compensation expense of 126 million euros, which was paid by the Ministry of Labor and Social Affairs (category of transfers),

e) the additional grants to EOPYY, in the amount of 90 million euros and to hospitals and DYPE, in the amount of 80 million euros, as well as the purchase of vaccines in the amount of 249 million euros and

f) the additional grant to DYPA (formerly OAED) in the amount of 200 million euros to cover the loss of revenue due to a reduction in employee insurance contributions and the grant to e-EFKA in the amount of 150 million euros to cover the loss of revenue from the reduction of contributions collected in favor of DYPA.

The provisional picture of the main payments of expenses for the measures to deal with the energy crisis, concerning the Central Administration, for the period January – June, is as follows:

a) a grant to OPECA of 206 million euros, which is broken down into the following sub-parts: 120 million euros for the extraordinary installment of the child benefit, 46 million euros for the payment of the increase in the income support of beneficiaries of the minimum guaranteed income, 33 million for the extraordinary financial support of the disabled and 7 million euros for the increase of the pension of the uninsured elderly,

b) a grant to the e-EFKA of 135 million euros for the extraordinary financial support of vulnerable pensioners,

c) grant to the Information Society to support natural persons and freelancers in order to deal with the increase in the cost of motor fuels (fuel pass) amounting to 131 million euros,

d) grant to OPEKEPE in the amount of 50 million euros to deal with the consequences in Greek livestock farming due to international developments,

e) special purpose compensation to support TAXI operators and drivers amounting to 5 million euros and

f) diesel fuel subsidy of €67 million.

For the period of January – June 2022, the state budget expenditures are shown reduced, compared to the corresponding period of 2021, by 1,385 million euros.