Greece updates budget accounting for Local Government Organizations

A new decision has been issued to modify the chart of accounts for the General Government Accounting Framework and the common economic classification of the budgets of General Government entities. This modification, published in Government Gazette B' 5761/23.09.2026, specifically impacts Local Government Organizations (OTAs) through the introduction of new and modified accounts regarding returns, grants, and Central Autonomous Resources.

The changes aim to ensure a more accurate reflection of the accounting framework. The updates include the registration of new accounts, the renaming of existing ones, and the inactivation of others. These adjustments, which were requested by various services including the Independent Authority for Public Revenue (AADE) and the Ministry of National Defense, are scheduled to be implemented in budgets starting from the 2027 fiscal year. The decision clarifies that these changes do not incur additional expenditure for the state budget.