Greek Budget Holds Firm Despite Regional Turbulence

Greece’s state budget remained resilient in April, the second month of the war in the Middle East, posting a primary surplus exceeding 5.1 billion euros and outperforming fiscal targets for the first four months of 2026.

According to preliminary Finance Ministry data, the state budget recorded a surplus of 1.88 euros billion between January and April, compared with a projected deficit of 909 million euros. The figure was also slightly above the 1.85 billion euros surplus recorded during the same period in 2025.

The primary surplus, calculated on a modified cash basis, reached 5.18 billion euros, comfortably ahead of the 2.3 billion euros target and marginally higher than last year’s level. After excluding one-off and timing-related items — including delayed defense and investment payments, early inflows from the Recovery and Resilience Facility (RRF), and advance public investment revenues — the underlying overperformance against budget targets stood at 358 million euros.