Dear Rest Of Europe: "Greece Records €7.55 Billion Primary Surplus in First Nine Months"

From Greek City Times, October 27:

Greece recorded a primary budget surplus of €7.554 billion in the January-September 2026 period, exceeding the government’s target of €5.129 billion, as stronger-than-expected tax revenues, particularly from value-added tax (VAT) and income tax, boosted public finances, according to final execution data released by the Ministry of National Economy and Finance.

However, after adjusting for delayed payments and special receipts, the primary surplus exceeded the target by a more modest €305 million. Regular tax revenues, excluding special receipts, surpassed the target by €1.426 billion, or 2.6%.

The primary surplus for the same period in 2025 stood at €9.449 billion.

State Budget Records Overall Surplus

Greece’s state budget recorded an overall surplus of €127 million in the first nine months of 2026, compared with a targeted deficit of €1.897 billion. The budget had recorded a surplus of €2.401 billion in the corresponding period of 2025.

Read more: Primary Surplus Beats Target Through September

The adjusted primary surplus reflects several timing differences and exceptional receipts. These included €695 million in delayed payments under the Public Investment Programme, €385 million in delayed defence procurement payments and €905 million in delayed transfers to General Government entities.

The calculation also excludes €135 million from the second instalment of the concession fee for the operating licence of a casino at Ellinikon.

The ministry noted that payment timing differences do not affect the General Government result under national accounting rules. The casino receipt had been expected at the end of 2025, although fiscal accounting records the revenue over the concession period.

Net Revenue Exceeds Target by €2.5 Billion

Net state budget revenue reached €57.811 billion during the nine-month period, exceeding the budget target by €2.501 billion....

....MUCH MORE 

Here with further commentary are Maddy Prior & The Carnival Band performing "The World Turned Upside Down"a traditional English ballad from 1646.