Madeira will record a budget surplus of 25.3 million euros in 2023, representing 0.4% of gross domestic product (GDP), the regional finance minister said on Monday, expressing satisfaction at breaking the deficit cycle.
“It is with great satisfaction that we conclude that the region has returned to the path of fiscal surplus in 2023,” said Rogerio Gouveia, stressing that the cycle of eight consecutive years of fiscal deficit was interrupted “due to the pandemic [de covid-19] as well as the conflict in Ukraine.”
The Madeira Executive (PSD/CDS-PP) estimated the regional budget deficit last year at 98 million euros, but the region ended up recording a surplus of 25.3 million euros, a government official stressed at a press conference in Funchal. after data from the National Institute of Statistics and the Regional Office of Statistics were published.
Author: Lusa
Source: CM Jornal
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