Greece recorded a surplus of €1.96 billion in its state budget for the period January–August 2025, according to execution data on a modified cash basis.

The result contrasts with the €1.38 billion deficit projected for the same period in the 2025 budget and compares with a €1.04 billion surplus in the corresponding period of 2024.

The primary balance on a modified cash basis reached a surplus of €8.50 billion, above the target of €4.93 billion and the €7.57 billion recorded in the same period last year.

Adjusting for the timing of certain transfer payments of €1.90 billion and defence programme payments of €540 million, which do not affect the general government outcome on a fiscal basis, the primary balance exceeds the target by an estimated €793 million.

Total net revenues for January–August 2025 reached €48.46 billion, up €184 million or 0.4 per cent against the target set in the budget.

Tax revenues accounted for €46.52 billion, rising €2.04 billion or 4.6 per cent above expectations, mainly due to stronger collection of income taxes, VAT and excise duties.

VAT receipts reached €18.19 billion, while excise duties were €4.86 billion, both exceeding targets. Property taxes totalled €1.98 billion, and income taxes €17.31 billion, with personal income tax ahead of the target by €828 million.

Social contributions reached €41 million, in line with projections, while transfers were slightly below target at €4.50 billion.

Sales of goods and services amounted to €1.74 billion, including €784.80 million from the new Attiki Odos concession contract, while other current revenues totalled €1.82 billion. Tax refunds stood at €6.18 billion.

State budget expenditure for the period reached €46.49 billion, €3.16 billion below the target and €2.41 billion higher than the same period in 2024.

Key allocations included €897 million for hospitals and healthcare units, €400 million for universal electricity service costs, €377 million for medical procurement through the National Central Health Procurement Authority, €251 million for transport operators and €145 million for higher education institutions.

Investment payments amounted to €7.04 billion, slightly below target but up €491 million on last year.