Public finance report 2024-2029 (of December 2025)

Budget deficits will remain well above the Maastricht limit of 3% of GDP until 2029
Consolidation efforts will stop the deficit from increasing, but they are not sufficient to prevent the debt-to-GDP ratio from rising further
Despite the expiry of crisis support measures, economic policies continue to weigh heavily on the budget
The gap between revenue and expenditure that emerged during the pandemic is be-coming entrenched
Planned measures are not sufficient to reduce the deficit to 3% of GDP
So long as the net expenditure path is maintained, breaching the deficit limit in 2028 will only lead to the EDP being extended