“We opted for transparent governance regarding the accounts resulting from the regional public business sector, which had debts that were integrated to save companies in a significant way,” stated social democrat José Manuel Bolieiro.

According to data released by the National Statistics Institute (INE), the Azores' debt grew by 139 million euros in 2023, reaching 3.2 billion euros.

The president of the Government of the Azores (PSD/CDS-PP/PPM) received today, in Ponta Delgada, at Palácio da Conceição, the regional secretary of Finance, Planning and Public Administration, Duarte Freitas, to present the data relating to the budget deficit and the public debt of the Azores in 2023, with technical analysis/commentary by university professor Teresa Tiago.

Data released on Monday by the National Statistics Institute (INE) revealed that the State achieved a historic surplus of 1.2% of the Gross Domestic Product (GDP) in 2023, exceeding the target of 0.8% set out in the Budget report of the State for 2024.

Last year's budget surplus was one billion euros higher than budgeted, mainly due to a greater than estimated contribution from contributory and tax revenue.

Also on Monday, Madeira's regional Finance Secretary revealed that the region recorded a budget surplus of 25.3 million euros in 2023, interrupting a three-year deficit cycle.