At 8.7 billion euros, the primary surplus in 2024, according to the final budget execution figures announced by the Ministry of National Economy and Finance, against a target for a primary surplus of 4.635 billion euros and a primary surplus of 3.92 billion euros in 2023.

According to the state budget execution data, on a modified cash basis, for the period January – December 2024, there is a surplus in the state budget balance of EUR 369 million against the target for a deficit of EUR 3,601 million included for the corresponding period of 2024 in the 2025 Budget Report and a deficit of EUR 3,760 million in the corresponding period of 2023.

A significant part of the difference with respect to the target comes from, on the one hand, the increased cash receipts from the MFF by EUR 612 million and, on the other hand, from the carry-over of payments of expenditure of the armament programs to 2025 and from the under-execution of transfers to OCA of EUR 740 and 1,907 million respectively, which do not affect the result in budgetary terms. Excluding the above amounts, the positive difference in the primary surplus against the target amounts to EUR 804 million, of which EUR 411 million relates to the excess of tax revenues after refunds.

It should be noted that the primary outcome in fiscal terms differs from the outcome in cash terms. In addition, the above refers to the primary result of the Central Administration and not to the General Government as a whole, which includes the financial results of the legal entities and the sub-sectors of the OTA and OKA.