Greece is showing strong fiscal momentum, with new data from ELSTAT — confirmed by Eurostat — revealing a significantly higher-than-expected primary surplus for 2024.

Key Highlights from ELSTAT’s Report

  • Primary Surplus:
    €11.4 billion (4.8% of GDP), nearly double the initial forecast of 2.5%. This is a drastic jump from previous reports of €4.6 billion (2% of GDP) in March of 2025.
    (Excludes interest payments and reflects the government’s underlying fiscal balance.)

  • Overall Budget Surplus:
    €3.18 billion, including debt servicing.

  • Public Debt:
    €364.9 billion (153.6% of GDP), stable and declining as a share of GDP.

These figures were reported under the ESA 2010 framework as part of Greece’s EU reporting obligations.

What’s Driving the Surplus?

The ELSTAT report indicated that several contributors led to the surplus increase, including:

1. Revenue Growth
Government revenue rose from €108.4 billion in 2023 to €117.2 billion in 2024 — an 8.1% increase.

2. Low Government Spending 
Expenditures grew modestly, from €111.5 billion to €114 billion — up just 2.2%.

What Comes Next?

In response to the fiscal overperformance, Prime Minister Kyriakos Mitsotakis announced a new €1 billion support package, including rent support, stipends for pensioners, and funding for public investment.