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Financial data

The HGC prepares and publishes annual balance sheets audited by a certified auditor. In addition, it timely prepares an annual budget submitted to the Minister of Finance and attached to the State Budget.

In the event of a deficit in the HGC budget, it is allocated revenue and appropriations by virtue of a decision by the Minister of Finance, which are entered in the ordinary budget. In the event of a surplus, this is allocated in whole or in part to the State by decision of the Minister of Finance.

Within the framework of the Values to which the HGC has committed itself and in combination with the rules of “use of existing resources”, “use of necessary resources” and “minimum cost”, which it has adopted and applies, the budgets for both 2014 and 2015 are in surplus.

The annual budget is prepared in accordance with the Authority’s action planning.


The annual budget includes the projected revenues as well as the expenditures necessary for its effective operation and the achievement of its objectives in the exercise of its responsibilities.


The annual budget, upon recommendation by the President, is approved by the HGC and submitted to the Minister of Finance, to subsequently be incorporated as an appendix to the State Budget, which is voted on by the Hellenic Parliament.

For each financial year, the annual balance sheet is prepared in accordance with the unified accounting plan and international accounting standards, and is submitted for approval to the HGC.

The audit of the financial management of the HGC and the audit of the balance sheet are carried out every year by certified auditors, who draw up a report on the management and the account of the financial year closed by the end of June of each year.