The total revenue of the January-May period amounted to €30.21 billion, exceeding the target by €2.53 billion.
According to Thursday’s budget announcement by the Finance Ministry, this over-execution is mainly attributed to the premature collection of €884 million from the Recovery Fund, as well as the increased Public Investment Program revenues (by €574 million).
In May, high inflation gave a boost to value-added tax receipts, though not to special consumption tax takings.
The rise in fuel prices due to the war in the Middle East has reduced fuel consumption, so that the consumption tax revenue has fallen short of the target set in the 2026 budget by €44 million.
According to the final budget execution data, tax revenues were up by €289 million or 5.7% against the target in May, mainly due to an outperformance of income taxes (by €192 million) and of VAT (by €91 million).
