Greece posts strong budget surplus

Greece has made a remarkable comeback.

A large part of that recovery is being credited to its new fiscal rules, CE Report quotes ANSA.

"There was a time when Greece was considered one of Europe's most troubled countries, with weak economic growth, high public debt, and an inefficient tax collection system that struggled even to fund essential public services. Today, Greece is one of only five European Union countries to record a primary budget surplus."

This is according to FiscoOggi, the online magazine of Italy's Revenue Agency, in an article by Stefano Latini.

The International Monetary Fund (IMF) describes Greece's turnaround as extraordinary, saying it has restored the country's economic credibility. According to the IMF, the key driver has been the radical transformation of Greece's tax administration.

The IMF says Greece is now structurally stronger and better able to withstand external shocks, including those stemming from geopolitical tensions in the Middle East.

Macroeconomic data support that assessment. Greece's primary budget surplus reached nearly 5% of GDP during 2024–2025, while its debt-to-GDP ratio fell by 65 percentage points from its peak in 2020.

According to the article, this success was not the result of luck but of a carefully planned strategy of structural reforms implemented over the past 15 years. Tax reforms played a central role, while new technologies are now helping the country improve tax collection and increase public revenue.

Photo: Wikipedia