Social Security closed the month of May with a positive balance of 2,043.3 million eurostranslating into a 6.9% year-on-year increase in effective income and a 7% decrease in effective expenses, the authority announced on Thursday.
In a statement, the Ministry of Labor, Solidarity and Social Security points out that “Social Security closed May 2022, a month marked by the evolution of the pandemic, the fall in unemployment, the constrictions caused by inflation and the mobilization of extraordinary support. , with a balance of 2,043.3 million euros”.
for this result Contributed an increase in effective income of 873.2 million euros (+6.9% year-on-year) and a decrease in effective spending amounting to 871.1 million euros (-7% compared to the same period of the previous year)”, he explains.
The year-on-year increase in 6.9% of effective income in Mayfor a total of 13,572.9 million euros, was due “to the growth in employment and the increase in total income from contributions and contributions by 990.5 million euros (+13.2% than in the same period of 2021) ”.
Also, the increase in current transfers of the Central Administration amounts to 136.5 million euros (not including the transfer to the Substitute Banking Regime).
Effective spending reached 11,529.6 million euros in May, which represents a decrease of 7% compared to the same period of 2021.
According to the ministry responsible for Ana Mendes Godinho, “this decrease is essentially due to the improvement in pandemic situation and the reduction of unemployment.
“Expurgating the impact of the extraordinary Covid measures and unemployment benefits, spending reaches 10,436.5 million euros, in line with the same period of the previous year (+3.9 million euros)”, he adds.
For the evolution of spending, guardianship stands out for having “special relevance” is the increase in spending on pensions and complements in 147.7 million euros (+2.3% compared to May 2021); the increase in spending on parental benefits by 43.1 million euros (+16.9% compared to May 2021); and the increase in spending on social action programs and benefits by 7.2 million euros (+0.9% compared to May 2021);
see also the increase in spending on subsidy and sickness supplement at 63.7 million euros (+21% compared to May 2021); the cost of the new extraordinary support measure for the most vulnerable people, paid in April and May to 1.07 million households, for an amount of 64 million euros; and the decrease in spending on extraordinary COVID measures by 696.8 million euros (-57.7% compared to May 2021).
As he adds, “there was also a decrease in spending on unemployment benefits amounting to 178.2 million euros (-23.4% compared to May 2021)”.
Source: Observadora
