In the period from January to April 2025, tax revenues reached 22 billion euros, surpassing the target by 1.36 billion euros, or 6.6%, as reported by the Ministry of National Economy and Finance.
This increase is primarily due to:
- Strong tax collection performance (including VAT and corporate income tax) this year, along with improved collections from last year’s income taxes which were paid in installments through February 2025.
- The collection of approximately 439 million euros in personal income tax, which was originally expected to be received in the following months, thanks to the early implementation of the tax return submission process in mid-March.
The modified cash basis shows a primary surplus of 5.148 billion euros, significantly exceeding the target of 1.973 billion euros and surpassing the 3.282 billion euro surplus recorded in the same period of 2024.
For the same period, the state budget balance on a modified cash basis achieved a surplus of 1.850 billion euros, compared to a projected deficit of 1.357 billion euros outlined in the 2025 Budget introductory report, and a deficit of 250 million euros recorded in the same timeframe of 2024.
Revenue Overview
From January to April 2025, net state budget revenues totaled 23.059 billion euros, reflecting an increase of 229 million euros, or 1%, compared to the target set in the 2025 Budget report.
