Greece reported a record primary surplus of €8.6 billion in 2024, significantly surpassing the target of €4.6 billion. Economy Minister Kostis Hatzidakis attributed the success to increased revenues from reduced tax evasion and stronger-than-expected growth. Looking ahead to 2025, the government plans further tax cuts for the middle class and a focus on microeconomic policies to boost investments, exports, and economic competitiveness.
Tag: budget surplus
Greece has surprised Europe with its remarkable economic recovery, transforming from a debt-stricken nation to a model of fiscal stability within a decade. Once synonymous with financial turmoil, Greece is now outpacing Germany in economic growth and projecting a 3% budget surplus by year-end. While investor confidence soars, rising rents and inflation continue to strain ordinary citizens, highlighting the uneven impact of the country’s comeback.
Greece reported a primary budget surplus of €13.489 billion for the first ten months of 2024, far exceeding the €4.667 billion target. This performance was boosted by the early collection of €3.241 billion from the Attiki Odos concession contract. The European Commission projects robust GDP growth for Greece, outpacing EU and Eurozone averages through 2026, alongside declining inflation, unemployment, and public debt levels.