In the first eleven months of 2023, the state budget recorded a deficit (of EUR 1,321 million), while it recorded a surplus of EUR 5 million when excluding the impact of various intervention measures.
State budget trends in the first eleven months were worse than in the same period last year. The overall deficit was higher (by EUR 760 million) and was mainly the result of the EUR 504 million lower “core” surplus (excluding intervention measures). The overall amount of all intervention measures was year-on-year higher by EUR 256 milion.
The eleven-month outturn confirms the Fiscal Council’s assessment on continued unrealistic budget planning. According to the assessment of the state budget outturn for 2023, which the Fiscal Council received with the draft budget documents for the next two years, an 77.4% year-on-year increase in the total state budget expenditure is possible in December of this year (the year-on-year increase recorded in the first eleven months of this year was EUR 9.3%). As a result, the budget deficit in the last month of this year could reach as much as EUR 1.8 billion, or almost EUR 500 million more than in the first eleven months of this year.