Greek Economy Posts €4.4 Billion Surplus in Strong Start to 2026

• 5 May, 26

Greece’s state budget recorded a primary surplus of 4.4 billion euros in the first quarter of 2026, reflecting stronger-than-expected fiscal performance and exceeding the target by 1.66 billion, according to National Economy and Finance Minister Kyriakos Pierrakakis.

Citing ministry data, Pierrakakis said tax revenues reached 17.28 billion euros, outperforming forecasts, while total net revenues amounted to 18.51 billion euros.

“The Greek economy is not what it used to be,” the minister said during an interview to public broadcaster ERT, adding that Greece is “now in a much stronger and more stable position”.

Public Investment Program drives growth

In March, stronger tax collection and inflows from the Public Investment Program supported revenues. Additional income came from the concession agreement for the Egnatia Odos motorway and the second installment related to the Hellinikon casino license.

Expenditure stood at 17.02 billion euros, below target due to lower spending. As a result, the overall budget balance posted a surplus of 1.49 billion euros, compared to a projected deficit.

The finance minister said fiscal performance is expected to be revised upwards, while stressing that any additional fiscal space will be assessed in line with EU expenditure rules and evolving economic conditions.

Greece less vulnerable to energy price shocks

The Greek economy is now more resilient to prolonged energy price increases than in the past, Pierrakakis said, citing stronger growth compared to the European average in recent years.

He pointed to improved fiscal positions, declining public debt and an economic model supported by higher investment, exports and reduced tax evasion.

At the same time, he noted that uncertainty over the duration of the energy crisis remains a key factor, with its scale and duration expected to shape the government’s response.

Cre: News.gtp.gr