Greece’s central government posted a cash surplus of €920 million in the first quarter of 2026, down from €1.45 billion a year earlier, as higher public spending weighed on the headline balance.
Data released by the Bank of Greece showed that the decline in the overall surplus came despite a modest improvement in the country’s underlying fiscal position. The primary surplus rose to €3.5 billion in the January–March period, up from €3.3 billion in the same quarter last year. The increase suggests continued strength in Greece’s core public finances, even as broader budget dynamics softened.
Revenue performance remained broadly flat. Regular budget revenues edged up to €16.9 billion from €16.85 billion a year earlier, supported by steady tax collection and restrained tax refunds. The marginal increase points to limited momentum on the revenue side, with no significant acceleration in inflows.
By contrast, expenditures increased more visibly. Regular budget spending climbed to €15.8 billion, compared with €15.4 billion in the first quarter of 2025, driven by higher outlays for social benefits and the day-to-day operational needs of the public sector.
The combination of stable revenues and rising expenditures narrowed the overall surplus, highlighting the growing role of spending pressures in shaping fiscal outcomes.
