Greece records €162M State Budget surplus in January-September 2026

According to the preliminary data available for the execution of the Greek State Budget on a modified cash basis, the State Budget balance for the period January-September 2026 presented a surplus of 162 million Euros, against the target of a deficit of 1,897 million Euros that has been incorporated for the same period of 2026 in the 2026 Budget Introductory Report and a surplus of 2,401 million Euros for the same period of 2025.

The State Budget Primary Balance on a modified cash basis amounted to a surplus of 7,589 million Euros, against the primary surplus target of 5,129 million Euros and the primary surplus of 9,449 million Euros performed at the same period of the previous year, CE Report informs via the Ministry of National Economy and Finance of Greece's official website.

Excluding an amount of 695 million Euros relating to time differentiation of PIB payments, an amount of 385 million Euros relating to time differentiation of payments of defense programs and an amount of 905 million Euros relating to time differentiation of transfers to General Government entities, which do not affect the General Government’s result in fiscal terms, as well as, an amount of 135 million Euros from the 2nd installment of the price for granting the license to operate a casino in Elliniko, which is fiscally recorded during the concession years, the over execution in the primary balance on a modified cash basis, in comparison to the budget targets is 340 million Euros.

It is noted that the Primary Balance in fiscal terms differs in comparison to the result in cash terms. Additionally, the aforementioned concerns the Primary Balance of the Central Administration and not of the whole of the General Government, which also includes the fiscal results of legal entities and the sub-sectors of LGs and SSFs.

Note: In the revenues of January 2026, the amounts arising from the transactions required for the completion of the Service Concession Agreement for the financing, operation, maintenance and exploitation of the Egnatia Motorway and its three (3) vertical road axes, for a period of 35 years, which was ratified by Law 5260/2025 (A’ 229) were recorded.

Specifically:

• an amount of 306 million Euros relating to VAT 24% on the transaction fee, was paid by the concessionaire to the State revenues, recorded in the category of “Taxes”, and was accompanied by an equal tax refund.
• Subsequently, the same amount of 306 million Euros, was paid to the State revenues and recorded under the category of “Sales of goods and services”.

For the period January – September 2026, State Budget net revenues amounted to 57,834 million Euros, showing an increase of 2,525 million Euros against the target of the corresponding period, which is included in the 2026 Budget introductory report. However, the target of the Budget Introductory Report included an amount of 1,258 million Euros from the Recovery and Resilience Facility (RRF), of which 884 million Euros was collected earlier, in April, while the remaining amount of 374 million Euros is expected to be collected during the current year. Excluding the RRF amount, net revenues increased by 2,899 million Euros against the target.

Tax revenues amounted to 56,072 million Euros and include: (a) the amount of 306 million Euros from the Concession Agreement for Egnatia Odos, as mentioned above and (b) the amount of 135 million Euros from the second (2nd) installment of the payment for granting an operating license for a casino business in Elliniko, which was originally scheduled for collection at the end of 2025. Excluding the above amounts, tax revenues amounted to 55,631 million Euros, 1,532 million Euros, or 2.8% higher than the target.

A more precise allocation among the revenue categories of the State Budget will take place when the final Bulletin is issued.

Tax refunds amounted to 6,727 million Euros, 520 million Euros higher than the target (6,206 million Euros), which is included in the 2026 Budget Introductory Report, mainly due to the VAT refund amounting 306 million Euros from the Concession Agreement for Egnatia Odos, as mentioned above.

PIB revenues amounted to 3,518 million Euros, 278 million Euros higher than the target (3,240 million Euros), which is included in the 2026 Budget Introductory Report.

Specifically in September 2026, the State Budget net revenues amounted to 6,483 million Euros, 194 million Euros higher than the monthly target.

Tax revenues amounted to 6,591 million Euros, 179 million Euros or 2.8% higher than the target.

Tax refunds amounted to 626 million Euros, 79 million Euros higher than the target (548 million Euros).

PIB revenues amounted to 94 million Euros, 26 million Euros lower than the target (120 million Euros).

State Budget expenditures for the period January-September 2026 amounted to 57,672 million Euros, 465 million Euros higher than the target (57,206 million Euros), which is included in the 2026 Budget Introductory Report, mainly due to the acceleration of the RRF payments. They were also increased in comparison to the respective period of 2025 by 5,412 million Euros.

In the Ordinary Budget, payments were decreased by 1,105 million Euros compared to the target.

Noteworthy transfers / payments are the following:

The grant to the National Health Service Organization of 1,544 million Euros, The grant to the Social Insurance Welfare Benefits Organization of 1,994 million Euros, The grant to the National Centralized Health Procurement Authority (E.K.A.P.Y.) of 917 million Euros for purchasing medicine and other health products and services for public hospitals The transfers to hospitals and Primary Health Care of 1,022 million Euros, The grants to the transportation entities (OASA, OASTH, and OSE) of 327 million Euros, The grant to Information Society of 131 million Euros for the payment FUEL PASS, The payment of 136 million Euros for the diesel fuel subsidy, The extraordinary subsidy of families with children of 232 million Euros.

Investment expenditure amounted to 10,395 million Euros, increased by 1,571 million Euros in comparison to the target, which has been included in the 2026 Budget Introductory Report, due to the acceleration of the RRF projects implementation. They were also increased by 2,209 million Euros compared to the corresponding period of 2025.

Photo: Pexels (Free Stock Photos)