Overview

• The 2025 budget proposes €60 billion in fiscal adjustments, with a focus on tax increases and spending cuts.
• Key measures include additional taxes on high-income households and large corporations, alongside cuts in healthcare and local government spending.
• The budget aims to reduce the deficit from 6.1% to 5% of GDP by 2025, with a long-term target of 3% by 2029.
• Critics warn of potential economic growth impacts and the risk of further credit rating downgrades.
• Political tensions are high as the government, lacking a strong majority, faces debates and possible amendments in parliament.