Public investment “is increasingly far from meeting the objective of rising 43% in the year.” The indication is given by the Forum for Competitiveness in the August conjuncture note, to which the Observer had access. Even saying that there was an “inexplicable” slowdown in public investment.
“Until July, the budget balance was reduced, from 1,113 million to 432 million euros, with less contained current spending and an inexplicable slowdown in public investment, further and further from meeting the objective of rising 43% in the year ”, reads.si in the note of the Forum for Competitiveness. Investment, according to budget execution data, stopped growing. “It is not understood how it is that, at the same time, there is such a high tax collection above expectations and an almost paralysis of public investment.”
The increase in tax revenues slowed down from 28.1% to 25.4%, “but its growth remained well above the 6.5% expected.” For its part, spending stopped falling and began to rise 1%, “less than expected for the year (3.2%)”. Public accounts thus registered a year-on-year improvement, with a reduction in the deficit.
This article is exclusive to our subscribers: subscribe now and benefit from unlimited reading and other benefits. If you are already a subscriber, log in here. If you think this message is an error, please contact our customer service.
Source: Observadora
