The state budget recorded a primary surplus of €9.35 billion in the January–September 2025 period, exceeding the target of €5.2 billion by more than €4.1 billion.
This overperformance was driven mainly by higher tax revenues, which reached €52.8 billion, up 8% compared with last year, as well as by lower state spending, which was contained at €52.2 billion, down around 6% year-on-year and €3.4 billion below budget projections.
In September alone, net budget revenues stood at €6.1 billion, surpassing the monthly target by €277 million, despite the fact that tax payments began earlier this year and were spread across more months than initially planned.
According to provisional data released on Wednesday by the General Accounting Office, the state budget showed an overall balance surplus of €2.3 billion in the nine-month period, compared with a targeted deficit of €1.58 billion. The primary result reached €9.36 billion, versus a target of €5.21 billion and €8.74 billion in the same period of 2024.
The General Accounting Office noted that timing shifts in certain transfers and defense payments, amounting to €2.07 billion and €650 million respectively, do not affect the general government result. Excluding such adjustments, the primary surplus still exceeded targets by about €1.08 billion.
Overall net revenues in January–September came to €54.6 billion, up €460 million or 0.9% against target, with the increase largely attributed to higher tax receipts. Revenues from the privatization contract of the Egnatia motorway, expected at €1.35 billion, have not yet been collected and will be accounted for in the coming months.
On the expenditure side, state budget spending stood at €52.3 billion, €3.4 billion below target, though still €2.9 billion higher compared with the same period in 2024. The decline relative to projections was mainly due to the rescheduling of transfers to social security funds and other government bodies, as well as delayed payments for defense programs.
Significant outlays during the nine-month period included €952 million to hospitals, €400 million for public service obligations in the energy sector, €463 million for the central health procurement authority, €282 million in subsidies to public transport companies, and €153 million to higher education institutions.
