DREM releases revised data on the main aggregates of the Regional Public Administration of Madeira 

The Regional Directorate of Statistics of Madeira (DREM) today releases a set of information regarding the main aggregates of the Regional Public Administration of Madeira for the period 2008 to 2024, with the data for 2023 now classified as final and those for 2024 as provisional.

The accounts of the Regional Government sector (APR) are compiled in accordance with the concepts and definitions of the European System of National and Regional Accounts 2010 (ESA 2010) and with the specific guidelines of the Manual on Government Deficit and Debt. The data released are transmitted to Eurostat under the ESA 2010 transmission programme and are consistent with the second 2025 notification relating to the Excessive Deficit Procedure (EDP), also published today. The values are presented in national accounts, with 2021 being the benchmark year. 

In 2024

Regional Public Administration of Madeira recorded a positive balance as revenue grew at a faster pace than expenditure

In 2024, the institutional sector of the Regional Public Administration of Madeira registered a net lending of 169.5 million euros, i.e., a positive balance, which was considerably higher than in the previous year. In 2023, the balance stood at 19.9 million euros, corresponding to 0.3% of GDP.

In that year, the total revenue of the RPA of Madeira amounted to 2 141.9 million euros, representing an increase of 17.1% compared with 2023 (+313.4 million euros), with current revenue rising by 10.2% (+176.5 million euros).

Due to their share in total revenue, the increase of +12.8% in taxes on production and imports is noteworthy, explained by the growth in VAT (Value Added Tax) revenue as a result of the recovery in economic activity, followed by a rise of +5.0% in taxes on income and wealth, reflecting an increase in Corporate Income Tax (IRC). Social contributions also grew by +13.4%.

Capital revenue rose from 102.7 million euros in 2023 to 239.6 million euros in 2024 (+133.3%).

In 2024, the total expenditure of the RPA of Madeira reached 1 972.4 million euros (1 808.6 million euros in the previous year), an increase of 9.1% compared with 2023, reflecting growth in capital expenditure (+32.4%) and a more moderate rise in current expenditure (+6.2%).

The growth in current expenditure was due to higher compensation of employees (+7.2%), reflecting wage updates in the RPA, the change in the insularity allowance scheme, and to a lesser extent, increases in the guaranteed minimum monthly wage and the meal allowance.

Social benefits (excluding social transfers in kind) rose by about 8.5%, as a result of higher transfers in the health sector and compensation payments to land transport companies.

Expenditure on interest, before the allocation of Financial Intermediation Services Indirectly Measured (FISIM), showed a slight increase of 3.2% compared with the previous year. Still within current expenditure, subsidies paid decreased by around 12.6%.

The increase in capital expenditure (+32.4%) mainly resulted from higher capital transfers and the growth in investment (+29.7%), which reached 205.4 million euros in 2024.

The overall balance of the RPA of Madeira improved by around 149.6 million euros between 2023 and 2024, leading to a net financing capacity of 169.5 million euros in 2024. This positive development resulted from revenue growth (+17.1%) outpacing the increase in expenditure (+9.1%).

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