Overview
- NRW closed 2025 with an approximately €150 million surplus and did not take on new debt.
- Tax revenue came in about €2.13 billion above the budget, including roughly €500 million routed via the Länderfinanzausgleich from a large Bavarian inheritance-tax case.
- The surplus and special repayments produced a net debt reduction of about €2.2 billion.
- The municipal old-debt program has begun, with 19 municipalities transferring €2.15 billion toward a planned €8.9 billion takeover and completion targeted by the end of the summer recess.
- The finance minister expects around €4.4 billion in new borrowing in 2026 as federal tax reliefs, including accelerated depreciation under the investment booster, reduce receipts alongside anticipated public-sector wage costs.