Tax revenues increased by 511 million euros in March despite the crisis

By Tasos Dasopoulos

Tax revenues increased by € 511 million against the Budget target in March despite the unfavorable international economic situation following the very good course of the economy in 2021 when the deficit was less than 1.5% of GDP making the fiscal year easier. 2022 adjustment.

Tax revenue for March was € 3,439 million, up € 511 million or 17.5% from the target due to better performance in tax collection this year, as mentioned above.

At quarterly level, total revenues exceeded 1387 million euros and in combination with the lag by 1050 million euros in expenditures, the primary result was a deficit of 1.687 million euros, against a target for a primary deficit of 1.331 million euros and a primary deficit of 3.413 million. euros for the same period in 2021

Deputy Minister of Finance Mr. Theodoros Skylakakis, commenting on the progress of the Budget, stressed that the good course of public revenues continued in March, despite the negative effects on the economic climate from the war waged by Russia against Ukraine.

Mr. Skylakakis stressed that in the coming days Eurostat data for the 2021 deficit are expected, which is estimated to be significantly better than the budget forecast. According to the calculations of the General Accounting Office, the improvement will probably reach or even exceed 1.5 points of GDP. “This development is extremely important as it confirms to prudent institutions and markets the prudent management of public finances and allows the unreasonable additional financial support of households and businesses without the extravagant fiscal risks against the unreasonably high energy prices caused by the heinous Russian invasion.” , noted the Deputy Minister of Finance.

More specifically, the amount of net revenues of the State Budget amounted to 11,925 million euros, showing a decrease of 1,387 million euros or 10.4% compared to the estimate for the corresponding period included in the budget report 2022. However, the target of the report The report included the collection in February of the first installment for 2022 from the Fund for Recovery and Resilience (TAA) amounting to 1,718 million euros, which was received on April 9, 2022 and will appear in the State Budget Execution Bulletin for April 2022. amount from the TAA net income increased by 331 million euros or 2.5% against the target, despite the reduced revenue of PDE.

The total state budget revenues amounted to 13,228 million euros, reduced by 1,106 million euros or 7.7% against the target. Excluding the above amount from the TAA, total revenue is € 612 million higher than the target.

Tax revenue amounted to € 12,144 million, up € 1,337 million or 12.4% from the target set out in the 2022 Budget Report. 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 € 1,303 million, up € 280 million from the target (€ 1,023 million).

Public Investment Budget (PIP) revenues amounted to € 548 million, down € 697 million from the target (€ 1,245 million).

March

In particular, in March 2022, the total net revenues of the state budget amounted to 2,952 million euros, reduced by 416 million euros compared to the monthly target due to the reduced revenues of PDP.

The total revenue of the state budget amounted to 3,613 million euros, reduced by 96 million euros compared to the estimate for the corresponding period included in the budget report 2022.

Tax revenues amounted to € 3,439 million, up € 511 million or 17.5% from the target due to better performance in tax collection this year, as mentioned above.

Revenue returns amounted to € 661 million, up € 321 million from the target (€ 340 million).

Public Investment Budget (PDB) revenues amounted to € 2 million, down € 603 million from the target (€ 605 million).

Expenditures reduced by 1.05 billion

The State Budget expenditures for the period January – March 2022 amounted to 15,846 million euros and are reduced by 1,059 million euros compared to the target (16,905 million euros), which is included in the presentation of the 2022 Budget.

On the part of the Regular Budget, there is a lag of 1.51 million euros against the target, which is mainly due to the delay of payments of armaments programs by 459 million euros. There is also a lag in transfers to OKA by 207 million euros, in the current transfers to EU organizations and states. by EUR 188 million and the forfeiture of guarantees by EUR 147 million.

The state budget expenditures for the period January – March 2022 are reduced, compared to the corresponding period of 2021, by 1,376 million euros.