Greece’s Budget Deficit Grows To Over €15B

Greece’s state budget deficit for 2021 was €15.529 billion, compared to a deficit target of €17.487 billion, the Greek Finance Ministry said in a preliminary statement on the country’s state budget performance.

The Finance Ministry recalled that the state budget deficit in 2020 was €22.806 billion.

The primary deficit was €10.985 billion, compared to a primary deficit target of €12.946 billion and a primary deficit of €18.195 billion for 2020, the report said.

State budget net revenues amounted to €54.220 billion, an increase of €800 million or 1.5% compared to the target estimate. The increase in revenues was mainly due to the fact that €644 million was collected in December from the proceeds of Greek ANFAs bonds, which were not foreseen for 2021.

In addition, due to the extension of the road tax deadline from December to the end of February 2022, a significant amount that was planned to be collected in 2021 is expected to eventually be collected in 2022, the report said.

Total state budget revenues amounted to €59.324 billion, an increase of €1.244 billion or 2.1% compared to the plan.

Tax revenues amounted to €47.602 billion, €743 million or 1.6% more than the target.

State budget expenditure for 2021 amounted to €69.750 billion and decreased by €1.157 billion or 1.6% compared to the target. Compared to 2020, expenses decreased by €420 million, said the Ministry of Finance.

source: reuters.com

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