Fiscal surplus reaches €553 million in the first five months of 2026

Data released by the Statistical Service on Tuesday indicates a fiscal surplus of €553 million for January through May 2026, representing 1.4% of GDP. This is a slight decrease compared to the same period in 2025, when the surplus stood at €544.5 million or 1.5% of GDP. Total revenues increased by €282.5 million to reach €6.2 billion, driven largely by an 11% rise in VAT net revenues and an 8.4% increase in income and wealth tax. Total expenditures rose by €5.1% to €5.7 billion, with significant spending directed toward health, education, defense, and infrastructure projects. Development expenditures reached 19% implementation, surpassing the ten-year average of 17%. While tax and social contribution revenues grew, income from interest, dividends, and current transfers saw a notable decline. Government data also highlights a substantial increase in loan repayments exceeding €2 billion during this five-month timeframe.