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Newsletter 471 - 18/07/2025
no. These numbers suggest that while the scandal may not yet be a knockout blow, it has landed
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Significantly contained spending pushes July primary surplus 4.36 bln above target
EconomyMacroeconomyexpenditure was 4.43 billion euros, below target by 18 million. Overall, the PIB balance landed at a deficit
4% -
Underspend and taxes push primary balance up to Aug 3.77 bln above target
EconomyMacroeconomy, the PIB balance landed at a deficit of roughly 2.3 billion euros. RRF-related expenditures were 2.05
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Tax collections and contained spending take primary surplus 4.15 bln above target in Sep
EconomyMacroeconomyby 378 million. Overall, the PIB balance landed at a deficit of roughly 2.7 billion euros. RRF
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Budget underspend carries on in Oct as taxes continue to outperform
EconomyMacroeconomyexpenditure was 6.28 billion euros, below target by 656 million. Overall, the PIB balance landed at a deficit
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Budget continues to outperform in Nov as taxes beat target by 334 mln
EconomyMacroeconomy. Overall, the PIB balance landed at a deficit of roughly 4 billion euros. RRF-related expenditures were
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Small total surplus for budget at close of 2025 as underspend remains prominent
EconomyMacroeconomybalance landed at a deficit of roughly 6.2 billion euros. RRF-related expenditures were 4.9 billion
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Jan primary surplus at 3.5 bln as underspend continues into 2026
EconomyMacroeconomymillion euros. Overall, the PIB balance landed at a deficit of roughly 200 million euros. RRF-related
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Budget primary surplus at 3 bln in Feb as tax performance moderates
EconomyMacroeconomyeuros. Overall, the PIB balance landed at a surplus of roughly 200 million euros. RRF-related
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Underspend and rising tax revenues push primary surplus to 4.39 bln by March
EconomyMacroeconomybelow target by 212 million euros. Overall, the PIB balance landed at a surplus of roughly 750
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