State Budget: Primary Surplus of ā¬12.6 Billion in 11 Months
The execution of the state budget is progressing impressively, with the primary surplus reaching ā¬12.6 billion for the eleven-month period of January ā November 2025. This amount exceeds the target by almost ā¬5 billion.
According to the announcement, on a modified cash basis, the surplus in the state budget balance amounts to ā¬5.131 billion, compared to a target of ā¬225 million.
Net revenues amounted to ā¬68.7 billion, increased by ā¬2.26 billion compared to the target, while expenditures amounted to ā¬63.6 billion, decreased by ā¬2.65 billion.
The difference compared to the revenue targets is mainly due to the collection of ā¬2.109 billion from the Recovery and Resilience Facility, which was planned for December.
In terms of the Regular Budget, payments are reduced by ā¬2.038 billion compared to the target, due to delayed payments.
During the period January ā November 2025, the amount of net revenues of the state budget amounted to ā¬68.742 billion.
Specifically in November 2025, net revenues amounted to ā¬7.821 billion.