General government fiscal results for the first quarter of 2026

According to preliminary data released by the Statistical Service, the general government recorded a surplus of €573.3 million (1.5% of GDP) in the first quarter of 2026. This figure represents a slight decrease compared to the €600.6 million surplus (1.6% of GDP) reported for the same period in 2025. Total revenue rose by €194 million to reach €3.8 billion, driven primarily by increases in income tax, wealth taxes, and social contributions. Simultaneously, total expenditure increased by €221.3 million, reaching €3.2 billion. Notable expenditure hikes included a 6.4% rise in social benefits and a 41.1% increase in interest payments. The reduction in the overall surplus is attributed to the fact that government expenditures grew at a faster pace than revenues. These findings reflect the financial performance of the government for the period of January through March 2026.