Second Notification - September 2024

Excessive deficit procedure

According to the European Union regulations, Statistics Portugal (INE) submits the second notification of 2024 regarding the Excessive Deficit Procedure (EDP) to Eurostat by the end of this month.

The estimate of net lending of the Regional Government of Madeira for 2023 was 24.6 million euros, a decrease of 0.7 million euros compared to the first notification of this year, which was preliminary. Despite this, the Regional Public Administration accounts remained in a positive balance. It is worth noting that in 2022, there was a negative balance, with a net borrowing of 145.6 million euros that year.

In 2023, the regional gross debt of the Regional Government of Madeira stood at 5,002.3 million euros, the same amount reported in the first notification of this year. Compared to 2022, the gross debt decreased by approximately 28.7 million euros (-0.6%).

At the national level, the net lending of the Public Administrations in 2023 reached 3,246.8 million euros, which corresponded to 1.2% of Portugal's GDP. Meanwhile, the gross debt of the Public Administration amounted to 261.8 billion euros, or 97.9% of the national GDP. In the Autonomous Region of the Azores, the regional administration's balance showed a deficit of 133.4 million euros in 2023, while the gross debt of the Azores' regional administration was 3,202.8 million euros. 

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