Greece's fiscal health is showing positive signs, with the country's primary budget surplus exceeding its target by €1.058 billion for the first seven months of 2024, according to the General Accounting Office (GAO).
The GAO clarified that these figures reflect only the Central Administration's primary surplus and not the entire General Government's fiscal performance. Still, it underscores the robust fiscal performance of the Central Administration despite ongoing economic challenges.
The overperformance aligns with the 2024 budget's explanatory report and the Stability Program's projections, which anticipated a €1.238 billion increase in tax revenues.
The additional revenues are, however, offset by increased expenditures in the regular budget of General Government agencies and the Public Investment Program.
This achievement signals the Greek government's commitment to fiscal discipline and its efforts to improve the country's financial standing.
By George Pappous