“Hole” 5.5 billion euros in tax revenues in the 9 months

The economy is going through Sympligades and therefore the state funds due to the new strict restrictive measures with an additional pressure factor the recent revision of the statistics for the GDP. The loss of almost 4 billion euros for the period from 2015 to 2019 worsens the fiscal data, leading the financial staff, according to competent factors, to be more careful in taking measures in view of the uncertain, from a health point of view, winter. With the revised growth, as sources explain, the country is in a more difficult position to deal with debt and deficit issues in the coming years, which reduces the budgetary margin for support measures. The financial staff maintains that the liquidity cushion it has built, mainly by pumping liquidity from the markets, gives the flexibility to deal with the crisis, but prudent measures are needed based on the health conditions, while the support packages will be extended beyond 24 accordingly. billion provided for in the preliminary draft. Factors indicate that a support strategy has been developed, depending on how much they are affected by the coronavirus, which is dynamic, while from the data so far, the recession does not seem to reach double digits, however this depends on the evolution of the pandemic. , also awaiting the data of the Statistical Service for the GDP of the third quarter. The pressure exerted on the budget is also reflected in the execution of the budget, where the deficit in revenues in September reached 2.2 billion euros. The decline is greater in revenues from ENFIA and income tax, while in the 9th the “hole” reached 5.5 billion euros, compared to pre-crisis forecasts, and the primary deficit was 7.011 billion euros, compared to primary surplus target of € 2.568 billion – and primary surplus of € 4.474 billion for the same period in 2019. The causes According to the Ministry of Finance, this lag, in addition to the impact of the health crisis, is mainly due to lower income tax of legal entities affected by COVID-19, in the payment of personal income tax in 8 monthly installments (the third until the end of September 2020) instead of the 3 bi-monthly installments, in the payment of corporate income tax in 8 monthly installments instead of of 6 monthly installments and the extension given for the payment of the first and the second installment of ENFIA until the end of October. In particular, for the period of January – In September 2020, there is a deficit in the balance of € 11.269 billion compared to the target for a deficit of € 1.544 billion that has been included for the corresponding period of 2020 in the draft budget report of 2020 and a deficit of € 119 million in the corresponding period of 2019. Expenditure budget for the same amounted to 44.766 million euros and are increased by 5.002 million euros against the target (39.764 billion euros). Expenditures in the 9 months are increased compared to the corresponding period of 2019 by 6.122 billion euros, with the largest increase in the Public Investment Budget (PDB), which showed increased expenditure by 4.018 billion euros. Follow it on Google News and be the first to know all the newsSee all the latest News from Greece and the World, at

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