Budget execution: Income, property taxes fall short of targets for Jan-Sep period

24 October 2018
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The finance ministry on Wednesday announced shortfalls in terms of targets for collecting personal income tax and property taxes in Greece over the first nine-month period of 2018, with September alone showing a 177 million euros less than budgeted to flow into state coffers. Expected property taxes over the same month were down by 69 million from the budgeted target.

September coincided with the first deadline for payment of an annual income tax and the property levies.
Nevertheless, the Greek state continued to exceed the memorandum-mandated annual primary budget surplus target of 3.5 percent of GDP, mainly by further slashing public investments and freezing tax rebates.

A public investment program in September, for instance, was curtailed by 315 million from the budgeted figure. Tax rebates fell short by 105 million euros from the target for the same month.

As such, the primary budget surplus for the same period reached 4.795 billion euros, up from a target of 2.521 billion euros.

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