"The surplus this year is also a consequence of a one-off payment of withheld funds from the EU budget for implemented projects in the 2007-2013 multi-year budget," the ministry said.

Nevertheless, tax receipts, which constitute the main source of revenue for the budget, totalled EUR 6bn, which is up 6.4% compared to the same period last year.

Personal income tax revenue was up by 16.3% to EUR 904m due to favourable trends in the labour market. Corporate income tax also increased, albeit at a slightly lower pace of 9.2%, to reach EUR 645m, the ministry said.

VAT income increased by 6.1% to EUR 2.7bn, while excise duties netted the budget a total of EUR 1.2bn, down 2.5% compared to the same period last year. The ministry said the contraction was mainly due to lower revenue from energy as well as tobacco excise duties.

At the expenditure side, domestic and foreign interest payments were down 8.1% to EUR 793m, mostly due to active public debt management. The wage bill was up 5% to EUR 924m.