Greece and Cyprus fiscal reports show rising tax revenues and budget execution

Recent fiscal data and political commentary highlight significant shifts in tax revenues and budget execution. In Greece, SYRIZA official Nikos Pappas criticized the New Democracy government, claiming that tax revenues are projected to rise from €51.5 billion in 2019 to €73.5 billion by 2026. He noted that VAT collections alone increased from €17.5 billion to €29.5 billion, arguing that this growth outpaces real GDP growth and places a disproportionate burden on the majority of the population.

Regarding budget implementation, data from the General Accounting Office shows that by the end of July 2026, state revenues reached 50% of the annual target, while expenditures stood at 47%. Both revenues and expenditures amounted to €5.43 billion. Compared to the same period in 2025, revenues increased by €0.26 billion, driven largely by higher indirect and direct tax collections. Expenditures also rose by €0.26 billion, primarily due to increased operational costs, transfers, grants, and social benefits.