Good “leaven” of the financial space for her premier statements. TEF generate an increase in tax revenue for the period from January to July, which is reflected in yesterday’s results of operations. budget. However, the €5.1 billion overspending shown against the target budget is not ‘net’ as it is partly due to back-calculation. tax feesand the other part is already allocated to support anti-precision measures.

In fact, in Ministry of Finance they estimate that the “clean” fiscal space created by the end of July is around 800 million euros. Theoretically, by the end of the year, this amount could reach 2 billion euros. It is noted that the GDP stability program is estimated at 197 billion euros, and now, according to the economic headquarters, it can reach 204 billion euros, which means 2 billion euros of additional tax revenues.

However, according to sources in the Ministry of Finance, everything will depend on its price. natural gas and his electricitywhich threaten to consume most of the available space.

The “clean” fiscal space from the excess of tax revenues by 5.1 billion over 7 months is about 800 million.

It is characteristic that while Stability program the electricity subsidy was estimated at 800 million euros in the budget, now it is estimated at 1.3-1.5 billion euros. Instead of about 150 million euros per month, which was supposed, in August the amount reached 250 million euros and is likely to grow to 300-400 million euros per month from September. As noted, at the moment, the price of natural gas has exceeded 230 euros MWh, setting an absolute record, and if it remained at this level until the end of the year, the cost would reach 2 billion euros, exhausting all resources. fiscal space.

AT government they are not marching with this unfavorable scenario, but they are definitely holding “ammunition” for an unfavorable development of events. The measures currently being discussed for 2022 are for the next round. fuel pass, an extension of the heating allowance, and another test of accuracy for vulnerable households. The main benefits will affect 2023, in particular the increase in pensions and the abolition of the solidarity contribution for civil servants and pensioners. Yesterday’s performance data announcement indicated that the €5.1bn revenue overrun between January and July was “due to the extension of the traffic fee payment deadline until the end of February 2022.” the best implementation of the previous year’s taxes, which were collected in installments until the end of February 2022, the best collection rates of the current year’s taxes, as well as the collection of the first three ENFIA contributions during the months of May, June and July, while it was predicted that they would collected in September, October and November, respectively.

Especially in July, the surprise was the receipt of 897 million euros from the single payment of the refundable advance, about 1/3 of the total, despite the possibility of repaying it in 96 installments with a low interest rate. According to the Deputy Minister of Finance Theodor Skylakakis“This massive comeback proves that something has begun to change in the very business model of small and medium-sized enterprises.”

According to Mr. Skilakakis, the good earnings performance that continued in July “is intertwined with the resistance that the Greek economy is putting up against the huge external pressure it has faced in recent years.” The primary deficit of the state budget in the 7th month amounted to 1.167 billion euros against the planned budget of 5.8 billion euros.