Budget execution in public accounting recorded a deficit of 259 million euros until March, the first since December 2022, which in year-on-year terms (comparison with January-March 2023), means a reduction in the budget balance by 5.3 billion euros.
According to the Ministry of Finance, “the year-on-year degradation of the budget balance, in the first quarter of 2024, represents 2.3 billion euros, if the base effect of the transfer of the CGD pension fund in 2023 is removed”.
Central government debts to suppliers increased by around 300 million euros in the first three months of the year.
The Ministry of Finance also highlights that, in January 2024, there was a surplus of 1,177 million euros, which turned into a deficit of 259 million euros in March. “This strong degradation of the budget balance, between January and March 2024, results, to a large extent, from decisions and commitments made this year by the previous Government and, in many cases, after the March 10 elections”.
