The state budget recorded the lowest January surplus (EUR 14 million) in recent years. Revenue increased three times slower than expenditure. The high growth in expenditure was fuelled by an increase in current spending (primarily an increase in subsidies and labour costs) resulting from economic policy measures, and transfers to budgetary funds.
Economic policy measures, particularly wage and pension reforms, also contributed to the increase in expenditure from the other three public finance budgets last year.
The increase in transfers from the state budget to social security funds highlights challenges in their self-financing.
In recent years, the volume of transfer to the health insurance budget has increased significantly. The adopted financial plan of the Health Insurance Institute of Slovenia (ZZZS) for 2026 envisages a balanced compulsory health insurance account, but is based on the extensive effects of the planned measures. If these effects do not materialise, the health insurance budget deficit could be the largest ever.
Last year, pension expenditure grew faster than nominal GDP, and its share expressed as GDP reached its highest level in five years (10.2%). The introduction of the winter allowance contributed significantly to the growth in expenditure from the pension insurance budget.
The municipal deficit fell to -0.2% of GDP in 2025. Transfer from the state budget increased again, partly due to the introduction of additional funds to reduce disparities between municipalities.