General government reports surplus for January 2026

The Statistical Service reported a general government surplus of €538.8 million, or 1.5% of GDP, for January 2026. This figure represents a decline from the €569.3 million, or 1.6% of GDP, recorded in January 2025. Total revenue rose by 1% to €1,551.5 million, driven primarily by a 12.2% increase in income and wealth tax receipts to €657 million. Conversely, taxes on production and imports fell by 6.2% to €363.4 million, while social contributions decreased by 1.8% to €423.4 million. Total expenditures reached €1 billion, an increase of €45.2 million or 4.7% compared to the previous year. Intermediate consumption rose by €10.2 million, and social benefits increased by €19.3 million to €450 million. Meanwhile, public sector personnel costs declined slightly by 0.4% to €313.8 million, and subsidies were reduced by €8.6 million. The overall reduction in the surplus is attributed to the fact that expenditure growth outpaced revenue growth.