Greece's primary surplus tops €10 billion, debt ratio declines

primary surplus public debt tax revenue Greece bank deposit rates

The Greek government projects a primary fiscal surplus of more than €10 billion in 2026, marking the third consecutive year the surplus exceeds 4 % of GDP. In the first half of 2026 the primary surplus reached €4.491 billion, beating the €1.953 billion target by €2.538 billion. The over‑performance is driven largely by higher tax revenues, with total tax receipts of €33.824 billion—€584 million (1.8 %) above the forecast—and VAT collections of €14.577 billion, €573 million higher than expected.

Public debt continues to fall. Greece’s debt‑to‑GDP ratio dropped to 143.5 % in the first quarter of 2026, the steepest decline among EU members, shaving 9.4 percentage points year‑on‑year. Authorities expect the ratio to reach 136.8 % by the end of 2026 and to dip below 120 % by 2029. Meanwhile, Greek banks still lag behind the Eurozone in deposit rates; savings accounts earn about 0.03 % in Greece versus 0.28 % across the Euro area, widening the gap for households and businesses.

Eurobank’s analysis confirms the primary surplus of €4.49 billion, well above the €1.95 billion target, though it notes that part of the excess stems from timing shifts rather than a permanent fiscal improvement.

Entities

Bank of Greece · Eurobank · European Central Bank · Eurostat · Greece · Greek government

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[○ 1 SOURCE] Greece's public debt ratio fell to 143.5 % of GDP in Q1 2026, a reduction of 9.4 percentage points, the largest among EU members. www.newmoney.gr
[DISPUTED] Tax revenues in H1 2026 reached €33.824 billion, exceeding the target by €584 million (1.8 %). www.sbctv.gr · www.ot.gr
[○ 1 SOURCE] Public debt is projected to reach 136.8 % of GDP by the end of 2026 and fall below 120 % by 2029. www.newmoney.gr
[● 2 SOURCES] VAT revenues in H1 2026 were €14.577 billion, €573 million above target. www.sbctv.gr · www.ot.gr
[● 2 SOURCES] Greece's primary fiscal surplus is projected to exceed €10 billion in 2026. www.sbctv.gr · www.ot.gr
[● 2 SOURCES] The primary surplus in the first half of 2026 was €4.491 billion, surpassing the target of €1.953 billion by €2.538 billion. www.sbctv.gr · www.ot.gr
[○ 1 SOURCE] Greek banks' average deposit rates are far lower than Eurozone averages; savings accounts earn about 0.03 % in Greece versus 0.28 % across the Euro area.
[○ 1 SOURCE] Eurobank reported a primary surplus of €4.49 billion in H1 2026, exceeding the €1.95 billion target. www.capital.gr