State budget tax revenue rose 15.6% in March compared with budget targets totaling 3.385 billion euros, reflecting a more efficient tax collection, the Finance Ministry said on Tuesday.

State budget tax revenue rose 15.6% in March compared with budget targets totaling 3.385 billion euros, reflecting a more efficient tax collection, the Finance Ministry said on Tuesday.

Specifically, the Greek state budget, in an amended cash basis, reported a deficit of 3.884 billion euros in the January-March period, up from a budget target for a shortfall of 3.593 billion euros but down from 5.714 billion in the corresponding period last year.

The budget recorded a primary deficit of 1.650 billion euros in the three-month period, up from a budget target for a deficit of 1.331 billion euros but down from a shortfall of 3.413 billion in 2021. Net proceeds totaled 11.963 billion euros, down 10.1% from targets, while regular budget proceds totaled 13.266 billion euros, down 7.5% from targets.

Tax revenue exceeded targets by 11.9% helped by the delayed payment of car circulation duties. Tax returns totaled 1.303 billion euros, up 280 million from targets, while Public Investment Programme revenue was 582 million euros, down 663 million from targets.

Budget spending amounted 15.847 billion euros in the three-month period, down 1.059 billion from targets, while regular budget spending fell short of targets by 1.517 billion euros and by 1.376 billion compared with the same period last year.

In March, net budget revenue was 2.990 billion euros, down 379 million from monthly targets. Regular budget revenue was 3.651 billion euros, down 58 million from monthly targets. Tax returns totaled 661 million euros, up 321 million from targets, while Public Investment Programme revenue was 35 million euros, down 570 million from targets.

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