The surplus of public administrations for 2024 has been revised down from 0.7% to 0.5% of GDP, as revealed by the second notification of the Excessive Deficit Procedure (EDP) published today by the National Institute of Statistics (INE).
“According to the provisional results obtained in this exercise, the Public Administrations (PA) had a positive balance of 1,451.4 million euros in 2024, corresponding to 0.5% of GDP (1.3% in 2023),” reads the document.
INE explains that these revisions “result from incorporating the information underlying the General State Account and fundamentally from the reprogramming of the Recovery and Resilience Plan (PRR), which aimed to extend the deadline to meet the final target, with the objective of ensuring the efficient implementation of investments.”
