A surge in Tax collections show final figures from the State Treasury Department for the implementation of the state budget in the January-April quarter.

Net revenues totaled 25.2 billion euros and expenditures amounted to 23.3 billion euros.

Specifically in the month of April, net revenues of the state budget amounted to 6.667 billion euros. EUR 1.425 billion above the monthly target, due to the increased collection of VAT , but also the collection of EUR 884 million from the Recovery and Resilience Fund, as well as due to increased revenues from the Public Investment Programme (by €260 million).

More specifically, the revenues of the main categories of the state budget in April were as follows:

1. Revenues of the category “Taxes” amounted to €5.482 billion, up €15 million or 0.3% against the target.

Among the main taxes in this category, it is observed that:

– VAT revenues amounted to €2.595 billion and were up against the target by €121 million.

– Revenues from Special Consumption Taxes amounted to €560 million. EUR 560 million and was EUR 37 million below target.

– Property tax revenue amounted to EUR 284 million and was EUR 35 million above target.

– Income tax revenue amounted to EUR 1.356 billion and was EUR 144 million below target. Of this, Personal Income Tax was down by EUR 132 million, while Corporate Income Tax was up by EUR 4 million and Other Income Taxes were down by EUR 15 million.

2. Revenues in the Social Contributions category amounted to EUR 4 million, close to the target

3. Revenues of the category “Transfers”amounted to EUR 1.295 billion, up EUR 1.146 billion against target. An amount of €884 million relates to revenue from the CDF, while an amount of €344 million relates to revenue from the MFF, which is up €231 million against target.

4. Revenue in the category “Sales of goods and services”amounted to EUR 338 million, up EUR 191 million against the target.

5. Revenues of the category “Other current revenue”amounted to EUR 221 million, up EUR 94 million against the target. An amount of €36 million relates to MFF revenue, which is €29 million higher than the target.

6. Refunds of revenue amounted to EUR 673 million, up EUR 21 million from the target (EUR 652 million).

7. Total public investment budget (PIB) revenues amounted to €380 million, up €260 million from target (€120 million).

Primary surplus

Based on these developments in the month of April, a total primary state budget surplus of €5.185 billion emerges in the first quarter (January-April 2026), as reflected in the provisional budget execution figures, which were announced last week. They record an excess of 2.887 billion against a target for a primary surplus of 2.298 billion euros and a primary surplus of 5.148 billion euros for the same period in 2025.

The general balance of the state budget also records a surplus of 1.887 billion euros against a target for a deficit of 909 million euros. EUR 908.887 million included for the corresponding period of 2026 in the 2026 Budget Report, but a surplus of EUR 1.850 billion in the corresponding period of 2025.

Over all, the revenues of the main categories of the state budget in the first quarter of 2026 are as follows:

1. Revenues of the taxes category amounted to €22.664 billion, and include:

(a) the amount of €306 million, from the Egnatia Highway Concession Contract, and

(b) the amount of €135 million from the second instalment of the price for the concession of the license to operate a casino business in Elliniko, which was scheduled to be collected at the end of 2025.

Excluding the above amounts, tax revenues amounted to €22.223 billion, a shortfall of €118 million or 0.5% against the target.

Specifically for the main taxes in this category, the following can be observed:

– VAT revenues amounted to €9.998 billion and are up against the target by €559 million. It should be noted that if the €306 million of the above concession is excluded, VAT revenue is also up by €253 million against the target.

– on the contrary, VAT revenue amounted to €2.024 billion and was down against the target by €181 million. This slowdown is mainly attributed to the decline in fuel consumption, from which VAT receipts were expected to reach €1.333 billion, but in the first quarter they did not exceed €1.148 billion, falling €185 million short.

– property tax receipts came in at 1.314 billion euros and are up against target by 20 million euros.

– income tax receipts came in at 7.086 billion euros and are down against target by 185 million euros. Of this, Personal Income Tax is up by EUR 51 million, while Corporate Income Tax is down by EUR 112 million and Other Income Taxes are down by EUR 124 million, compared to the target.

2. revenues of the Social Contributions category amounted to EUR 18 million. EUR 18 million, down EUR 2 million, against the target.

3. revenue of the category “Transfers”amounted to EUR 3.129 billion, up EUR 1.207 billion against the target, mainly due to the earlier collection of EUR 884 million from the Recovery and Resilience Fund, as mentioned above. In addition, an amount of EUR 2.098 billion relates to MFF revenue, which is EUR 313 million higher than the target.

4. Revenues of the category “Sales of goods and services” amounted to EUR 989 million and include an amount of EUR 306 million from the Egnatia Highway Concession Contract, as mentioned above. Excluding this, the above revenues amounted to EUR 683 million, up EUR 262 million against the target.

5. Revenues of the category “Other current revenue” amounted to EUR 976 million, up EUR 218 million against the target. An amount of €213 million relates to MFI revenue, which is up €148 million against the target.

Revenue refunds amounted to €2.601 million, exceeding the forecast by €206 million from the target (€2.395 billion) included in the 2026 Budget’s explanatory memorandum, due to a VAT refund of €306 million. EUR 306 million from the Egnatia Odos Concession Contract, as noted earlier.

Total revenues of the Public Investment Programme (PIP) amounted to EUR 2.311 billion in the quarter and were also up by EUR 461 million against the target (EUR 1.850 million), which has been included in the 2026 Budget’s presentation report.

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