Spending bonus of €500 mln

The consistent overshooting of tax revenue targets seen every month this year is now safely forecast to lead to a higher primary surplus in the 2024 budget compared to the target. That will allow the government to plan additional spending of around €500 million for the next year compared to the original target - after an agreement with Brussels. 

According to Economy and Finance Ministry information, the primary surplus this year is predicted to close in the region of 2.4% of GDP, against a target of 2.1% of GDP, according to the April Stability Program. 

In its spring forecasts the European Commission had already seen that the primary surplus this year would close at 2.3% of GDP. In any case, it will be another year in which targets will be exceeded. It is recalled that in 2023 the primary surplus finally came to 1.9% of GDP, as found by Eurostat in April, against a...