The overall balance of Public Administrations recorded a surplus of 2,008.6 million euros in the first half of 2025, marking an improvement of 4,680.6 million euros compared to the same period last year, which showed a deficit of 2,672 million euros. This improvement is attributed to revenue growth of 13.9%, outpacing the expenditure increase of 4.5%, as noted in the budget execution summary released today by the Budgetary Authority, formerly the Directorate-General of the Budget (DGO).
The primary balance reached 5,733.8 million euros, an increase of 4,716.2 million euros.
The document notes that the 13.9% revenue increase considers the performance of fiscal revenue and contributory and non-fiscal, non-contributory revenues.
Meanwhile, primary expenditure rose by 4.8%, with increases in personnel expenses (8.5%), transfers (3%), and investment (15.6%).
The balance of Regional and Local Administrations stood at 526.3 million euros, an increase of 58.5 million euros compared to last year.
In Regional Administration, the balance was negative at 192.4 million euros, a decrease of 69.5 million euros.
Conversely, Local Administration recorded a balance of 718.7 million euros, an increase of 128 million euros compared to the same period in 2024.
The Ministry of Finance stated in a communiqué that the budget execution strengthens “the executive’s confidence that the country will achieve a budget surplus this year, in national accounting, around 0.3% of GDP” (Gross Domestic Product).
