Greece posts €5.77 billion primary surplus in first seven months of 2026

Athens, Greece. Greece’s state budget recorded a primary surplus of €5.77 billion in the first seven months of 2026, exceeding the €4.42 billion target, according to budget execution data released this week.

The surplus was €1.35 billion above target, although the underlying outperformance was €302 million after timing differences and certain exceptional receipts were excluded.

Budget balance and revenues

The state budget balance recorded a deficit of €344 million between January and July, compared with a projected deficit of €1.32 billion in the 2026 budget.

Net state budget revenues reached €45.26 billion, exceeding the target by €2.03 billion.

Excluding €884 million in Recovery and Resilience Facility receipts that had been expected in June but were collected earlier in April, net revenues were €2.40 billion, or 5.7 per cent, above target.

Tax receipts

Tax revenues, excluding exceptional amounts, totalled €42.35 billion, €990 million, or 2.4 per cent, above projections.

Value-added tax revenues reached €17.74 billion, €739 million above target after excluding €306 million linked to the concession agreement for the Egnatia motorway.

Income tax revenues stood at €15.07 billion, €294 million above target. Personal income tax receipts were €346 million above forecast, while corporate income tax receipts were €20 million higher than projected.

Excise duty revenues totalled €3.96 billion, €224 million below target. Property tax revenues reached €1.86 billion, exceeding expectations by €55 million.

Transfers and investment receipts

Transfers generated €4.22 billion, €91 million above target, including €2.89 billion in public investment programme receipts.