At 2.1% of GDP, or €4.658 billion, the primary surplus for 2023 was finally reached, higher than the 1.9% initially estimated and much higher than the 1.1% of GDP projected in the 2024 budget.

According to data released by ELSTAT, the general government deficit for 2023, according to ESA 2010, is estimated at 2.96 billion euros, while the gross consolidated general government debt in nominal terms at the end of 2023 is estimated at 369 billion euros (163.9% of GDP).

It is noted that the 2023 debt shows an increase in absolute terms compared to 2022, but as a percentage of GDP it is significantly lower, as it was 177% in the previous year.

Taking into account the measures already announced, the primary surplus is expected to reach 2.4% in 2024 and 2.5% in 2025, according to the draft budget. The budget deficit is expected to be 1% of GDP in 2024 and 0.6% in 2025.

In the years 2020, 2021, 2022, and 2023, the cost of supporting financial institutions was greater than the related revenues, ELSTAT notes.