Budget Surplus: Which Taxes Drove Revenue Growth in Greece?

Tax revenues exceeded the target by 7.5% in the first half of 2025, indicating that inflation is supporting the budget. According to data from the Ministry of National Economy and Finance, tax revenues amounted to €32.208 billion, an increase of €2.236 billion.

This increase is mainly due to the collection of part of the personal income tax, amounting to €944 million, and the improved performance of current year taxes, such as VAT and Excise Duties.

The primary surplus more than doubled, reaching €4.519 billion, against a target of €2.235 billion. Net revenues of the state budget amounted to €34.381 billion, up 1.4% against the target.

Specifically, revenues from VAT amounted to €12.886 billion, up €316 million, while income tax revenues amounted to €11.081 billion, up €1.406 billion.

State Budget expenditures for the period January – June 2025 amounted to €34.945 billion, down €1.746 billion against the target.