The State registered a surplus of 2,540 million euros until October, in public accounting, an improvement of 9,210 million euros compared to the same period last year, the Ministry of Finance announced this Friday.
Despite the year-on-year increase, the the balance was reduced by about 2,700 million compared to the previous month due to measures to mitigate the impact of inflation.
“The accumulated budget balance of the Public Administrations, in public accounting, fell to 2,540 million euros as of October 2022, around 2,700 million euros less than that registered last month”, can be read in the Treasury statement , which precedes the publication of the execution summary budgets of the General Directorate of Budgets (DGO).
According to the cabinet headed by Minister Fernando Medina, the reduction compared to September “is largely due to the impact of the arrival of support measures for families and companies to mitigate the effect of rising prices.”
Already “comparing with January to October 2021, strongly marked by the pandemic, there is an improvement of 9,210 million euros”, highlights the Ministry.
The office highlights that, compared to the same period in 2019, the improvement in the balance sheet was 1,541 million euros????????
The evolution reflects “a 14.7% increase in collection compared to 2021 (and 15.1% compared to 2019) justified by the dynamism of the labor market, the economy and the effect of rising prices”, adds the same source.
For its part, spending increased by 1.8% year-on-year, influenced by the 38% reduction in real spending associated with the pandemic, highlighting the Ministry that, compared to 2019, spending grew by 13.1%.
Regarding primary spending, there was a year-on-year increase of 2.4% until October (16.8% compared to 2019).
“Excluding the effect of the Covid-19 measures, primary spending grew by 4.9% and current primary spending increased by 4.8%, year-on-year” and “compared to the same period in 2019, primary spending grew by 12 8%”, highlights the cabinet.
Revenues continue to grow, “but at a slower pace,” the ministry notes.
Tax and contributory revenues collected up to October grew by 15.7% compared to the same period in 2021 (15.5% compared to 2019), “mainly due to the contribution of tax revenues (18.6%), particularly due to the VAT recovery (21.2%)”, indicates the same source, adding that compared to the same period in 2019, tax collection increased by 14.8%.
“Compared to the rate of tax and contributory income registered between January and September of this year, there is, however, a slowdown (in the first nine months of the year it grew by 16.6% compared to 2021),” says the Treasury.
Contribution income grew by 9.6% year-on-year (17.2% compared to 2019), reflecting the behavior of the labor market.
The office highlights that “the measures to mitigate the impact of the geopolitical shock amount to 3,455 million euros, of which 1,560 million euros on the revenue side, highlighting the reduction of the ISP (1,146 million euros) and the extraordinary support to families (400 million euros). millions of euros)”.
“On the global spending side, 1,895 million euros are recorded, particularly those derived from direct support for household disposable income (1,263 million euros), more than half of which are related to the Exceptional Supplement of Pensions (986 million euros)”, he pointed out. adds.
The statement also mentions that primary spending grew until October driven by the National Health Service (SNS), investment and the Families First program.
SNS spending grows 6% year-on-year (21.4% compared to the same period in 2019), with the Treasury highlighting the component for the acquisition of goods and services, which increases 9% compared to 2021.
For this evolution “he strongly contributed to the growth of expenses associated with products sold in pharmacies (14.9%) and complementary means of diagnosis and therapy (10.6%)”, says the office.
Spending on social security benefits, excluding unemployment benefits and Covid-19 measures, grew by 8%, with parenting benefits (13%) and sick pay (9.3%) among the elderly increases.
The Ministry also refers that, until October, the investment of the Central Administration and Social Security, without public-private collaboration (APP), reached 1,466 million euros, 22.8% more than in the same period of the previous year. .
“The growth in investment associated with the Universalization of the Digital School, Ferrovia 2020 and the expansion of the Metro do Porto stands out”, can also be read in the statement.
Source: Observadora
