General government surplus reaches 1.59 billion euros in first eight months of 2026

The general government recorded a significant fiscal surplus of 1.59 billion euros during the first eight months of 2026, equivalent to 4.1% of GDP. This represents a substantial increase compared to the surplus of 1.27 billion euros, or 3.5% of GDP, reported for the same period in 2025.

Preliminary data released by the Statistical Service indicates that state revenues grew by 6.0% (615.8 million euros), reaching a total of 10.842 billion euros compared to 10.226 billion euros in the first eight months of 2025. The growth in revenue was largely driven by income and wealth tax receipts, which rose by 14.2% or 382.4 million euros, totaling 3.080 billion euros. Value Added Tax (VAT) and social security contributions also significantly bolstered the fiscal result, while expenditure growth remained contained.

Analysts note that while these results reflect improved fiscal performance, the increase in revenue coincides with mounting pressures on households and businesses, largely attributed to the rising cost of labor and broader inflationary trends. The data provides a preliminary snapshot of the country's public finances as of August 2026, showing a positive trajectory in revenue collection despite economic challenges.