Budget: Primary surplus of €4.369 billion in Q1 2026
The target for the primary surplus was €2.732 billion - Tax revenues exceeded the target by €308 million, mainly driven by VAT, while expenditures were lower than forecast, strengthening the result
Budget: Primary surplus of €2.99 billion in the first two months
Primary result 53% higher than the target, spending 9.2% lower than planned and net revenues about 1% below target
State Budget: Primary surplus of €12.6 billion in 11 months
Net revenue EUR 68.7 billion (+2.26 billion against target) and expenditure EUR 63.6 billion (-2.65 billion) in the January-November 2025 quarter