Primary surplus rose to 5.8 billion euros in the period January-November 2023, according to the National Economy & Finance Ministry, while tax revenues also moved higher.
More specifically, based on provisional budget execution data, the January-November primary surplus amounted to 5.854 billion euros, compared with a target of 3.771 billion euros and a primary deficit of 1.091 billion euros for the same period in 2022.
Tax revenues amounted to 56.197 billion euros, up by 605 million euros or 1.1% compared to the target included in the 2024 budget report.
The ministry said that in the period January-November 2023, net revenue amounted to 59.190 billion euros, representing an increase of 223 million euros compared to the target included for the corresponding period in the 2024 budget report.
Revenue refunds amounted to 6.267 billion euros, up 133 million from the target of 6.134 billion euros. Public Investment Budget revenues amounted to 2.933 billion euros, down by 361 million from the target of 3.294 billion euros.
In November 2023, total net state budget revenues amounted to 5.266 billion euros, up 173 million against the monthly target. Tax revenues amounted to 5.480 billion euros, up by 571 million or 11.6% against the target included in the 2024 budget report.
Revenue refunds amounted to 718 million euros, up 133 million from the target of 584 million euros. Public Investment Budget revenues amounted to 123 million, down by 363 million from the target of 486 million euros.
State budget expenditure for January-November 2023 amounted to 60.194 billion euros or 1.775 billion lower than the target of 61.969 billion euros, which has been included in the 2024 budget report.
It is also 1.116 billion euros higher than the corresponding period in 2022, mainly due to increased interest expenditure of 2.291 billion, taking into account offsetting changes in other categories of expenditure.
