General government fiscal results for January-February 2026

The Statistical Service reported a general government fiscal surplus of €594.3 million, or 1.5% of GDP, for the first two months of 2026. This represents a decrease of €69 million compared to the €663.4 million or 1.8% of GDP surplus recorded in the same period of 2025. Total revenue rose by €23.4 million to €2.7113 billion, driven by increases in income and wealth taxes, social contributions, and net VAT receipts. Conversely, taxes on production and imports fell by €12.8 million, while revenue from services and dividends also declined. Total expenditure rose by 4.6% to €2.117 billion, primarily due to a €45.5 million increase in social benefits and a €52.1 million rise in current transfers. Personnel costs reached €644.2 million, marking a €7.5 million increase. Additionally, capital account spending fell by €11 million, while interest paid and subsidies saw minor decreases.