Greek State Budget: Tax revenues exceed expectations by 1.16 billion in May

Budget fiscal revenues in May, exceeded the target by 1.16 billion euros.

The additional revenue will fund the government’s decisions on a new expanded quarterly subsidy package to stem the pressure from high fuel prices.

According to Deputy Finance Minister Th. Skylakakis, revenues from taxes amounted to 4.640 billion, increased by 1.162 billion euros or 33.4% against the target, mainly due to the collection of the first installment of ENFIA property tax and the better return on the collection of other taxes. These results  pave the way for the finalization of decisions concerning the support of citizens due to the fuel price rally.

As the Minister of Finance, Christos Staikouras, pointed out, from July, the new interventions in fuel will be implemented with a three-month horizon.

Sources at the Finance Ministry stressed that from the excess of 1.162 billion euros of revenues, 800 million euros are revenues from ENFIA property tax and the remaining 362 million euros are net excesses from other sources of tax revenues. It is estimated that about 690 million euros relate to cases of lump sum tax payment.