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Greece Posts Strong Primary Surplus As Revenues Outpace Budget Targets

Greece recorded a primary surplus of €5.77 billion in the first seven months of 2026, exceeding the €4.42 billion target set in the state budget, according to budget execution data released this week.

The broader state budget balance showed a €344 million deficit for the period, significantly below the €1.32 billion shortfall projected in the budget.

Revenue Exceeds Forecast

Net state budget revenue reached €45.26 billion, €2.03 billion above target. Even after excluding €884 million received earlier than scheduled from the Recovery and Resilience Facility, revenue remained €2.40 billion, or 5.7%, above the revised target.

Tax revenue excluding exceptional items stood at €42.35 billion, €990 million above forecast. VAT generated €17.74 billion, while income tax brought in €15.07 billion. Excise duties were weaker, falling €224 million short of target at €3.96 billion.

Transfers generated €4.22 billion, €91 million above target, while other current revenues reached €1.87 billion, €455 million above expectations.

Exceptional Payments Affect Comparisons

Several timing differences and one-off receipts affected the comparison with the budget. These included €135 million from a casino concession at Elliniko and €306 million in VAT related to the 35-year Egnatia motorway concession.

The government also recorded €510 million in public investment programme payments that differed from the original timing, along with €406 million in delayed transfers to general government entities. After adjusting for these items and the casino payment, the primary surplus was €302 million above target.

Officials noted that the primary balance calculated on a fiscal basis differs from the cash-based figure and that the data cover central government rather than the entire general government sector.

Spending And Investment Increase

State spending reached €45.60 billion in the first seven months, €1.05 billion above the budget target and €4.92 billion higher than a year earlier.

Major expenditures included €1.24 billion for the National Organisation for the Provision of Health Services, €1.82 billion for welfare benefits and €915 million for medicines and healthcare supplies. Hospitals and primary healthcare facilities received another €801 million, while public transport organisations received €244 million.

Investment spending rose particularly strongly to €7.60 billion, €855 million above target and €1.47 billion higher than in the same period of 2025. The increase was largely linked to faster implementation of projects financed through the Recovery and Resilience Facility.

July Revenue Beats Monthly Target

July net revenue reached €9.25 billion, €946 million above the monthly target. Public investment programme receipts exceeded the forecast by €363 million, while the state also received €234 million from the Modernisation Fund that had not been included in the 2026 budget projection.

Tax revenue reached €8.97 billion, €406 million or 4.7% above target. VAT receipts were €167 million higher than forecast, while income tax revenue exceeded expectations by €147 million. Public investment programme revenue totalled €418 million in July, compared with a budget target of €55 million.

The figures show stronger-than-budgeted revenue collection alongside higher investment spending during the first seven months of 2026.

Anthropic’s Opus 5.5 Arrives With Lower Costs, Faster Performance And Sharper Safety Guardrails

Anthropic on Tuesday unveiled Opus 5.5, its latest flagship model and, by the company’s account, a new state of the art in coding and knowledge work.

Opus remains the top tier in Anthropic’s three-model Claude family, positioned above Sonnet and Haiku, which serve the middle and entry-level segments respectively. The company says the new release not only outperforms the larger Fable model on several benchmarks, but also completed a number of informal tasks that Fable could not finish.

A More Efficient Frontier Model

One of the most notable changes is economic, not just technical. Anthropic says output tokens for Opus 5.5 will be priced at $20 per million, down from $25 for the previous version. Other usage metrics have also declined, and the model is faster to run, reflecting lower compute requirements to serve it.

That matters because model economics are increasingly central to enterprise adoption. In practice, a more capable model is only part of the equation; speed and cost often determine whether it can be deployed at scale across software development, research, customer operations, and internal knowledge workflows.

Sharper Communication, Less Jargon

Anthropic says the update also changes how Opus communicates. The new model is less likely to lean on jargon and more likely to lead with the most important information first. For business users, that is more than a stylistic adjustment. It improves readability, reduces friction in decision-making, and makes AI output easier to use in executive settings where time is scarce and clarity matters.

A Rapid Follow-Up To Opus 5

The launch comes just two months after the debut of Opus 5 on July 24. Anthropic said Sonnet 5.5 and Haiku 5.5, the next models in the lineup, will follow “in the coming weeks,” with similar performance gains expected.

Safety Remains Central To The Release

Anthropic says Opus 5.5 is comparable to Mythos in biology and cybersecurity capabilities, which means the model is subject to the same safeguards as the company’s Fable model. Those restrictions limit the model’s use in areas such as discovering exploits in compiled programs or developing recognizable biological weapons, among other sensitive tasks.

The release is also notable because it is Anthropic’s first since CEO Dario Amodei publicly embraced calls to pace the frontier, a strategy designed to slow the rate of capability gains so alignment and safety measures can catch up. In a recent post, Amodei wrote: “I have become convinced that fully addressing the risks requires even more prudence, not just investing in risk prevention, but pacing the rate of capabilities advancement so that risk prevention has time to keep up.”

Preparing The Next Layer Of Oversight

Anthropic said Opus 5.5 underwent safety training broadly similar to earlier models, including alignment testing and pre-release evaluation by external groups such as METR and Frontier Design. At the same time, the company said it is already building more advanced training and evaluation systems for future releases, including stronger security and monitoring infrastructure.

“As AI becomes more capable, public policy should play a larger role in making sure the systems people rely on are safe,” the company wrote in its announcement. “That capacity takes time to build, and we’ve started to put the infrastructure in place to support it. We expect to share more details on these efforts soon.”

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