The execution of the state budget in the first half of the year showed a significant outperformance against the target for the primary balance, with a primary surplus of €4.48 billion recorded, exceeding the budget target for January-June by €2.53 billion.
The budget had projected a primary surplus of €1.95 billion for the period. However, after excluding items related to payment timing differences and special fiscal entries, the over-performance relative to the target amounts to €159 million.
According to the provisional budget execution data announced on Wednesday by the Finance Ministry for January through June, the state budget balance recorded a deficit of €941 million, compared with the target deficit of €3.13 billion included in the explanatory report accompanying the 2026 budget for the corresponding period.
It also recorded a deficit of €564 million recorded in the same period in 2025. The primary result on a modified cash basis was slightly smaller than the primary surplus of €4.52 billion in January-June 2025.
