(dr) Legislative Assembly of the Autonomous Region of Madeira
Debate in the Legislative Assembly of the Autonomous Region of Madeira
Budget surplus of 25.3 million euros in 2023. A cycle of eight consecutive years with a budget deficit was interrupted.
A Wood registered a budget surplus in 25.3 million euros in 2023, which represents 0.4% of the Gross Domestic Product (GDP), announced this Monday the regional Secretary of Finance, expressing satisfaction at having been interrupted a cycle of deficit.
“It is with great satisfaction that we have come to the conclusion that the region has returned to the path of budget surpluses in 2023”, stated Rogério Gouveia, highlighting that a cycle of eight consecutive years with budget deficit “due to the pandemic [de covid-19] and also the conflict in Ukraine”.
The Madeiran executive (PSD/CDS-PP) estimated in the regional budget for last year a deficit of 98 million eurosbut the region ended up recording a surplus of 25.3 million, highlighted the government official, at a press conference in Funchal, after data from the National Statistics Institute and the Regional Statistics Directorate were released.
“This result is only possible as a result of economic dynamics and also the public policies that were implemented at various levels, particularly as a result of the measures carried out in the difficult years of 2020 and 2021”, pointed out Rogério Gouveia.
The person responsible for the Finance department said that the regional economy grew above what was expected, having also registered a increase of 17.8% of tax revenue last year, compared to the same period last year.
A expense, on the other hand, it grew at a slower rate (6.5%), increase that resulted mainly from the reinforcement of public investment and the updating of public administration careers, he indicated.
The budget surplus allowed the Regional Government amortize public debt, which last year stood at 5,002 million euros, which corresponds to 78% of GDP, highlighted Rogério Gouveia.
“Here once again it is clear that the sustainability trajectory of regional public finances is being maintained”, highlighted the regional Finance Secretary, adding that the executive intends that these good results can translate into better living conditions for citizens , with continued tax reductions and increased income.
Although the region does not have an approved budget for this year, which represents some limitations, the government official assured that the Regional Government has been working daily to mitigate the difficulties.
