Tax revenues increased by 506 million euros in April

By Tasos Dasopoulos

The tax revenues of April increased by 506 million euros against the target, continuing the good course from the beginning of the year, due to the dynamics of the economy from the end of 2021.

At the level of four months, the excess of tax revenues reaches 1.789 billion euros against the budget target. This development, together with the deficit of 958 million euros for the same period, formed a primary deficit of 811 million euros for the four months of January-April, against a target for a primary deficit of 2.453 billion euros and a primary deficit of 6.201 billion euros for same period in 2021.

More specifically, the amount of net revenues of the state budget amounted to 17.679 billion euros, showing an increase of 687 million euros or 4% compared to the estimate for the corresponding period included in the budget report 2022, despite the reduced revenues of the Program Public Investment.

Total state budget revenues amounted to 19.36 billion euros, up 1.11 billion euros or 6.1% from the target.

Revenues from taxes amounted to 16.081 billion euros, an increase of 1.789 billion euros or 12.5% ​​compared to the target included in the budget report 2022. This over-execution is due to the extension of the deadline for payment of road taxes until the end February 2022, in the best return of the previous year taxes collected in installments until the end of February 2022 as well as in the best return in the collection of taxes of the current year.

Revenue returns amounted to € 1.681 billion, up € 423 million from the target (€ 1.258 billion).

The total revenue of the Public Investment Budget (PIP) amounted to 837 million euros, reduced by 638 million euros from the target (1.475 billion euros).

April

In particular, in April 2022 the total net revenue of the state budget amounted to 5,716 billion euros, increased by 2,036 billion euros compared to the monthly target due mainly to the collection of the first tranche, amounting to 1,718 billion euros, from Recovery and Sustainability Fund (TAA) which was estimated to be collected in February 2022. Excluding the amount from the TAA, net income increased by 318 million euros or 8.6% against the target.

Total state budget revenues amounted to € 6.094 billion, an increase of € 2.179 billion compared to the estimate for the corresponding period included in the budget report 2022. Excluding the above amount from the TAA, total revenues show an increase of EUR 461 million against the target.

Tax revenue stood at 3.992 billion euros, up 506m euros or 14.5% from the target, due to a better performance in tax collection this year, as mentioned above.

Revenues amounted to € 378 million, up € 142 million from the target (€ 235 million).

The total revenue of the Public Investment Budget (PIP) amounted to 255 million euros, increased by 25 million euros compared to the target (230 million euros).

Expenditures reduced by 958 million euros

State Budget expenditures for the period January – April 2022 amounted to 21.007 billion euros and are reduced by 958 million euros compared to the target (21.965 billion euros), which is included in the budget report 2022.

On the part of the Regular Budget, there is a lag of 1.448 billion euros against the target, which is mainly due to the delay of payments of armaments programs by 458 million euros. There is also a lag in the current transfers to EU organizations and states. by EUR 149 million and the forfeiture of guarantees by EUR 203 million.

The provisional picture of the main payments of the measures for dealing with the energy crisis, concerning the Central Administration, for the period January – April, is as follows:

(a) a grant to OPEC of EUR 177 million, broken down into: EUR 90 million for the additional installment of the child allowance, EUR 46 million for the payment of the increase in the income support of the beneficiaries of the minimum guaranteed income; million for emergency financial assistance for the disabled, and EUR 7 million for the increase in the pension of the uninsured elderly,

(b) a grant to the Information Society to cover the cost of fuel consumption of EUR 131 million;

c) a grant to OPEKEPE amounting to 50 million euros to address the consequences for Greek livestock due to international developments; and

d) special purpose compensation for the support of TAXI operators and drivers amounting to 4 million euros.

State budget expenditures for the period January – April 2022 are reduced, compared to the corresponding period of 2021, by 2.915 billion euros.