In a significant show of fiscal discipline and economic resilience, Greece recorded a budget surplus of 1.3% of GDP in 2024, outpacing both domestic forecasts and European Union averages.
The figure stands in stark contrast to the EU average, where member states collectively reported an average deficit of 3.2% of GDP last year. Greece’s surplus is the result of a combination of strong tax revenues, strategic spending controls, and a recovering labor market, according to Finance Ministry sources.
What comes next?
The Greek government announced plans to reinvest part of the surplus into targeted support measures, including energy subsidies for vulnerable households and incentives for green energy adoption.
Approximately EUR 250 million will be distributed annually to renters, reimbursing one month’s rent each November. This initiative is expected to benefit around 948,000 households, representing 80% of renters in Greece.
An additional EUR 250 per year will be provided to elderly, disabled, and uninsured citizens, totaling 1,4 million beneficiaries. Also, the government plans to inject EUR 500 million annually into the Public Investment Program
Even more, the government has repaid EUR 7.9 billion in bilateral loans from eurozone countries ahead of schedule, with plans for an additional EUR 5 billion repayment in the coming year. These actions contribute to reducing the national debt-to-GDP ratio, projected to fall to 146.8% in 2025.