ATHENS, October 2026 — Greece recorded a primary surplus of €7.589 billion from January to September 2026, beating the €5.129 billion budget target, provisional state figures show.
The same period in 2025 produced a primary surplus of €9.449 billion. That figure comes from temporary General Accounting Office data.
Overall, the state budget showed a surplus of €162 million. By comparison, the budget report had targeted a deficit of €1.897 billion for the nine months.
A year earlier the books showed a €2.401 billion surplus. Despite a €2.46 billion rise above the primary surplus target, timing effects cut most of that gap. The net excess over the plan shrinks to €340 million.
Primary surplus timing effects
Those adjustments include €695 million in delayed Public Investment Program payments. They also cover €385 million in delayed defence equipment payments and €905 million in delayed transfers to general government bodies.
Those transfer delays do not affect the general government result in fiscal terms. Fiscal accounts also spread €135 million from the second Hellinikon casino licence instalment across the concession years.
“The primary result in fiscal terms differs from the result in cash terms.” Additionally, the figures cover central administration only. They leave out legal entities, local authorities and social security funds that sit in the wider general government.
Net state budget revenues reached €57.834 billion, up €2.525 billion on the target. However, the budget report had assumed a €1.258 billion Recovery and Resilience Facility receipt in June.
Of that sum, €884 million arrived early in April, while €374 million is still due this year. Excluding the Recovery Fund amount, net revenues ran €2.899 billion above target.
Revenues and spending
Tax revenues totalled €56.072 billion. That figure includes €306 million from the Egnatia Odos concession and the €135 million Hellinikon tranche.
Without those items, tax take stood at €55.631 billion. As a result, collections ran €1.532 billion, or 2.8 per cent, above the target and supported the primary surplus.
Revenue refunds reached €6.727 billion, €520 million above the €6.206 billion target. That rise mainly reflects a €306 million VAT refund tied to the Egnatia concession.
Public Investment Program revenues came to €3.518 billion, €278 million above the €3.240 billion target.
In September alone, net revenues hit €6.483 billion, €194 million above the monthly goal. Tax receipts rose 2.8 per cent to €6.591 billion.
Spending for the nine months totalled €57.672 billion. That was €465 million above the €57.206 billion target, mainly because of faster Recovery Fund payments.
Outlays ran €5.412 billion higher than in 2025. Regular budget payments were €1.105 billion below target.
Investment spending reached €10.395 billion. It ran €1.571 billion above target on accelerated Recovery Fund projects and €2.209 billion higher than a year earlier.
Greek City Times previously reported Greece’s August budget figures, which showed a €6.53 billion primary surplus. Official budget data sit with the Ministry of Finance.
Background on the portfolio is on the Ministry of Finance (Greece) page.
Source: AMNA
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