2016 budget execution nears successful completion; revenue targets exceeded

15 December 2016
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Greece’s tax-laden 2016 state budget is nearing a successful completion, with only 3.3 billion euros remaining to be collected over the last month of the year to meet annual revenue targets.

Provisional figures for the first 11 months of 2016, announced on Wednesday by the finance ministry, stood at 44.659 billion euros, exceeding the target by 1.454 billion euros.

The goal remains 47.976 billion euros by the last day of 2016, with a “cushion” built up over previous months expected to remain, given that December includes a corporate tax installment for legal entities, another property tax payment and the road license fees owed by vehicle owners — slapped on everything from motorbikes to commercial lorries — with the latter tax alone expected to bring in 1.1 billion euros in revenue.

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