\n<\/p>\n
However, after adjusting for delayed payments and special receipts, the primary surplus exceeded the target by a more modest \u20ac305 million. Regular tax revenues, excluding special receipts, surpassed the target by \u20ac1.426 billion, or 2.6%.<\/p>\n
The primary surplus for the same period in 2025 stood at \u20ac9.449 billion.<\/p>\n
State Budget Records Overall Surplus<\/strong><\/p>\n Greece\u2019s state budget recorded an overall surplus of \u20ac127 million in the first nine months of 2026, compared with a targeted deficit of \u20ac1.897 billion. The budget had recorded a surplus of \u20ac2.401 billion in the corresponding period of 2025.<\/p>\n Read more: Primary Surplus Beats Target Through September<\/p>\n The adjusted primary surplus reflects several timing differences and exceptional receipts. These included \u20ac695 million in delayed payments under the Public Investment Programme, \u20ac385 million in delayed defence procurement payments and \u20ac905 million in delayed transfers to General Government entities.<\/p>\n The calculation also excludes \u20ac135 million from the second instalment of the concession fee for the operating licence of a casino at Ellinikon.<\/p>\n The ministry noted that payment timing differences do not affect the General Government result under national accounting rules. The casino receipt had been expected at the end of 2025, although fiscal accounting records the revenue over the concession period.<\/p>\n Net Revenue Exceeds Target by \u20ac2.5 Billion<\/strong><\/p>\n Net state budget revenue reached \u20ac57.811 billion during the nine-month period, exceeding the budget target by \u20ac2.501 billion.<\/p>\n The comparison reflects the timing of payments from the Recovery and Resilience Facility. The budget had projected a \u20ac1.258 billion receipt in June. The government received \u20ac884 million earlier, in April, while it expects to collect the remaining \u20ac374 million before the end of 2026.<\/p>\n Excluding the Recovery and Resilience Facility amount, net revenue exceeded the target by \u20ac2.876 billion.<\/p>\n Tax revenue totalled \u20ac55.967 billion, including \u20ac306 million from the Egnatia Odos concession agreement and \u20ac135 million from the Ellinikon casino licence. Excluding these two special receipts, tax revenue reached \u20ac55.526 billion, surpassing the target by \u20ac1.426 billion, or 2.6%.<\/p>\n VAT and Income Tax Drive Revenue Growth<\/strong><\/p>\n VAT generated the largest positive deviation from the budget target. Revenue reached \u20ac23.062 billion, exceeding the target by \u20ac1.093 billion after excluding the \u20ac306 million associated with the Egnatia Odos concession.<\/p>\n Income tax revenue totalled \u20ac20.171 billion, beating the target by \u20ac360 million. Personal income tax receipts exceeded expectations by \u20ac408 million, while corporate income tax revenue fell \u20ac58 million short of the target. Other income taxes contributed a further \u20ac10 million above target.<\/p>\n Excise duty revenue reached \u20ac5.326 billion, falling \u20ac239 million below the target. Property tax receipts totalled \u20ac2.1 billion, exceeding expectations by \u20ac63 million.<\/p>\n The results point to stronger consumption-tax receipts amid higher prices, alongside increased income-tax revenue associated with rising incomes.<\/p>\n Other Revenue Categories<\/strong><\/p>\n Social contribution revenue reached \u20ac40 million, falling \u20ac5 million short of the target.<\/p>\n Transfer revenue totalled \u20ac4.764 billion, exceeding the target by \u20ac79 million. Public Investment Programme receipts within this category were \u20ac72 million above target.<\/p>\n Revenue from sales of goods and services reached \u20ac1.465 billion. Excluding \u20ac306 million from the Egnatia Odos concession, the total stood at \u20ac1.159 billion, exceeding the target by \u20ac274 million.<\/p>\n Other current revenue reached \u20ac2.3 billion, beating the target by \u20ac518 million. This included \u20ac319 million from the Public Investment Programme, \u20ac206 million above the corresponding target.<\/p>\n Revenue refunds totalled \u20ac6.727 billion, exceeding the budgeted \u20ac6.206 billion by \u20ac520 million. The ministry attributed much of the difference to a \u20ac306 million VAT refund linked to the Egnatia Odos concession agreement.<\/p>\n September Revenue Results<\/strong><\/p>\n In September alone, net state budget revenue reached \u20ac6.460 billion, exceeding the monthly target by \u20ac170 million.<\/p>\n Tax revenue totalled \u20ac6.486 billion, beating the target by \u20ac74 million, or 1.1%. VAT receipts reached \u20ac2.518 billion, exceeding expectations by \u20ac188 million.<\/p>\n Income tax revenue stood at \u20ac2.490 billion, falling \u20ac79 million below target. Personal income tax receipts missed the target by \u20ac25 million, corporate income tax by \u20ac49 million and other income taxes by \u20ac5 million.<\/p>\n Excise duty revenue reached \u20ac665 million, \u20ac8 million below target, while property tax receipts totalled \u20ac123 million, broadly in line with expectations.<\/p>\n Social contributions generated \u20ac4 million, \u20ac1 million below target. Transfer revenue reached \u20ac271 million, exceeding expectations by \u20ac146 million, although Public Investment Programme receipts within this category fell \u20ac26 million short of target.<\/p>\n Revenue from sales of goods and services reached \u20ac61 million, broadly in line with the target, while other current revenue totalled \u20ac264 million, exceeding expectations by \u20ac31 million.<\/p>\n Revenue refunds reached \u20ac626 million, \u20ac79 million above the target of \u20ac548 million. Total Public Investment Programme revenue stood at \u20ac94 million, \u20ac26 million below target.<\/p>\n State Spending Rises by \u20ac5.4 Billion Year on Year<\/strong><\/p>\n State budget expenditure reached \u20ac57.683 billion in the first nine months of 2026, exceeding the target of \u20ac57.206 billion by \u20ac477 million. Spending also increased by \u20ac5.423 billion compared with the corresponding period of 2025.<\/p>\n Regular budget payments came in \u20ac1.094 billion below target. By contrast, investment expenditure reached \u20ac10.395 billion, exceeding the target by \u20ac1.571 billion as the government accelerated projects funded through the Recovery and Resilience Facility. Investment spending also rose by \u20ac2.209 billion year on year.<\/p>\n Major transfers and payments included \u20ac1.544 billion for the National Organisation for Healthcare Services Provision (EOPYY) and \u20ac1.994 billion for the Organisation of Welfare Benefits and Social Solidarity (OPEKA).<\/p>\n The government also allocated \u20ac131 million to Information Society S.A. for Fuel Pass payments, \u20ac136 million for diesel fuel subsidies and \u20ac232 million in extraordinary financial support for families with children.<\/p>\n Further expenditure included \u20ac917 million for the National Central Health Procurement Authority to purchase medicines, products and healthcare services for public hospitals, as well as \u20ac1.032 billion in transfers to hospitals and primary healthcare services.<\/p>\n Subsidies to public transport operators OASA, OASTH and OSE totalled \u20ac327 million.<\/p>\n Ministry Clarifies Scope of Budget Figures<\/strong><\/p>\n The Ministry of National Economy and Finance stressed that the figures cover the primary balance of Central Government on a modified cash basis, rather than the entire General Government sector.<\/p>\n The cash-based result differs from the fiscal result. General Government includes Central Government, legal entities, local government organisations and social security organisations.<\/p>\n