Fiscal sustainability report 2025 (of April 2025)

Necessary adjustment of the structural primary balance increases from currently 2.5% to 7.0% of GDP by 2070 in order to keep the debt ratio path in line with the minimum requirements of the European fiscal rules in the long term
Demographic factors as the main driver of the long-term deterioration of the primary balance
Climate-related budget items contribute 1.3% of GDP to the long-term deterioration of the primary balance
Required debt path necessitates primary surpluses from 2033 onward
Significant deterioration of the outlook compared to previous long-term analyses
Variation of assumptions highlights the unavoidable need for consolidation