Fiscal Council Reports Record Budget Deficit as at May 2026

The Ministry of Finance has published statistical information on the implementation of the state budget as of April 2026, as well as preliminary estimates for the main budget indicators as at May 2026.

Given the unusual circumstances of operating under an extended budget framework, the Fiscal Council has presented a comparative analysis of budget execution and the dynamics of the key fiscal indicators.

According to the published data, the accumulated budget deficit at the end of May 2026 amounted to €2.5 billion, representing 2.0 per cent of gross domestic product (GDP). This is the highest level recorded in the past 20 years, dating back to 2007.

In May alone, the budget deficit stood at €740 million, or 0.6 per cent of GDP – also the highest monthly figure recorded in the past 20 years, since 2007.