Tax revenues significantly surpassed targets in January 2023, the finance ministry said in a report on Thursday, based on preliminary data for the execution of the budget on a modified cash basis. Alternate Finance Minister Theodore Skylakakis, commenting on the budget data, said that budget revenue was very good in January, with tax revenue totaling 5.023 billion euros, up 620 million or 14.1% from monthly targets, confirming government forecasts for a better-than-expected economic course this year.
More specifically, the state budget recorded a surplus of 1.471 billion euros in January, up from a monthly target for a surplus of 917 million euros and after a deficit of 1.199 billion euros in January 2022. The primary result showed a surplus of 2.765 billion euros, up from a target of 2.147 billion euros and a surplus of 15 million euros last year.
Net revenue was 7.157 billion euros, up 8.6% from budget targets, while regular budget revenue was 7.603 billion euros, up 10.9% from targets. Tax revenue amounted to 5.023 billion euros, up 14.1% from targets, tax returns totaled 445 million euros, up 184 million from targets, while Public Investment Programme revenue was 601 million, up 86 million from targets.
Budget spending totaled 5.686 billion euros in January, up 12 million from targets and up 632 million from January 2022. Regular budget spending exceeded targets by 110 million euros, while Public Investment Programme spending totaled 648 million euros, down 99 million from targets.
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