“Revenue” of tax revenues – Reduction of the deficit in the eleven months


Almost all the key fiscal figures in the eleven months show a significant increase compared to the target, as they appear from the provisional execution data of the state budget. A point of reference that contributes the most to the state budget, is the launch of tax revenues, which are based much higher than the bar set by the Ministry of Finance.

Remarkable, over 1 billion euros is the reduction of the primary deficit, which gives the government the opportunity to see with a positive “eye”, any new interventions to support households and businesses.


  • Revenues from taxes in the eleven months amounted to 43.003 billion euros, increased by 855 million euros or 2% compared to the target included in the budget report 2022. In November, in fact, tax revenues amounted to 4,422 million. increased by EUR 690 million or 18.5% against the monthly target.
  • For the period January – November 2021, there is a deficit in the state budget balance of 12.263 billion euros against a target for a deficit of 13.399 billion euros included for the corresponding period of 2021 in the budget report 2022 and a deficit of 18.252 billion. the corresponding period of 2020.
  • The primary result was a deficit of 7.879 billion euros, against a target for a primary deficit of 8.973 billion euros and a primary deficit of 13.747 billion euros for the same period in 2020.
  • The amount of net revenues of the state budget amounted to 48.480 billion euros, showing an increase of 330 million euros or 0.7% compared to the estimate for the corresponding period included in the presentation report of the 2022 Budget.

The total state budget revenues amounted to 52.750 billion euros, increased by 412 million euros or 0.8% against the target.

Revenue returns amounted to € 4.270 billion, up € 82 million from the target (€ 4.188 billion).
Public Investment Budget (PDB) revenues amounted to 3.763 billion euros, down 423 million euros from the target (4.187 billion euros).

In particular, in November 2021 the total net revenue of the state budget amounted to 4.324 billion euros, increased by 161 million euros compared to the updated monthly target.

Tax revenues amounted to 4.422 billion euros, up 690 million euros or 18.5% from the monthly target.
Revenue returns for November 2021 amounted to € 458 million, up € 82 million from the target (€ 376 million).

Revenues from the Public Investment Budget (PIP) amounted to € 183 million, down € 423 million from the target (€ 606 million).

State Budget expenditure for the period January – November 2021 amounted to 60.743 billion euros and is reduced by 805 million euros or 1.3% compared to the target (61.548 billion euros), which is included in the budget report 2022.

On the part of the Regular Budget, there is a lag of 660 million euros or 1.2% against the target, which is mainly due to the under-execution of other grants by 474 million euros and the purchases of goods and services by 129 million euros.
Payments on investment expenditures decreased compared to the target of € 7.952 billion by € 145 million 1.8%

The provisional picture of the main payments of the measures against the pandemic for the period January – November, is as follows:

(a) the cost of special purpose compensation due to the COVID-19 (employee) pandemic of € 1.968 billion, paid by the Ministry of Labor and Social Affairs (transfer category);
b) the repayable advance of € 1.620 billion from the transfer category and € 1.108 billion from the EDP;
c) the state compensation of landlords amounting to 744 million euros, due to reduced rents they receive;
d) the grant to OPEC amounting to 225 million euros, for the repayment of loans affected by the pandemic;
(e) the support of small and micro-enterprises affected by COVID-19 in the Regions amounting to EUR 741 million from the EDP;
f) the subsidy of interest on loans to small and medium-sized enterprises amounting to EUR 117 million from the EDP;
(g) expenditure on the business guarantee fund of EUR 220 million from the EDP;
(h) the working capital subsidy to catering establishments for the supply of raw materials amounting to EUR 203 million from the PDE;
i) the public contribution for the repayment of business loans of affected borrowers amounting to 215 million euros from the EDP;
j) the working capital subsidy to tourism enterprises amounting to EUR 100 million from the PDE;
k) the coverage of insurance contributions to e-EFKA during the implementation of the measures of support of employers and employees amounting to 703 million euros from the category of transfers;
l) the coverage of insurance contributions to e-EFKA related to the subsidy of fixed costs of enterprises amounting to 243 million euros;
m) the extraordinary subsidy of the Municipalities for the confrontation of the pandemic amounting to 101 million euros and
n) the subsidy to OAED to cover a loss of revenue of 571 million euros.

The state budget expenditures for the period January – November 2021 are increased compared to the corresponding period of 2020 by 365 million euros, mainly due to the increased payments of armaments programs in the regular budget.

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