The balance of public administrations was 5,705.2 million euros until September, which represents a jump compared to August, when the State surplus had stood at 475.5 million euros. The data was published this Thursday by the General Budget Directorate (DGO).
The budget surplus falls to 475.5 million euros in August
Compared to the same period last year, there was a sharp drop, but this was influenced by the transfer of pension funds from Caixa Geral de Depósitos. This operation of 3,018 million euros has no impact on the balance of the national accounts.
Even without this effect, the summary of budget execution indicates that the positive balance was reduced by 1,609.2 million euros in the first nine months of the year, as a result of a greater increase in expenses, of 11.1%, which of revenues, which grew by 4.3%. . Adjusted for the effect of the transfer of pension funds, the increase in income was 8.2%. This increase, states the DGO, reflects the increase of 5.3% in tax revenues and 9.8% in contributory revenues (9.8%). Non-tax and non-contributory income increased by 16.2%.
On the income side, the increases in income from Social Security contributions, 9.8%, and non-contributory income, 16.2%, stand out. Tax collection grew by 5.3% until September, largely in line with the IRCwhich grew by 23.8%.
Spending was pressured by increases in transfers, 12.5%, in personnel expenses, 7.9%, and in the acquisition of goods and services, 10.8%. Toward transfers They reflect the costs of pensions and allowances that were updated in the Social Security regime. This evolution does not yet incorporate the impact of the extraordinary pension supplement paid in October.
The evolution in personnel expenses (7.9%) “reflects the impact of the general salary update measure, transversal to all workers in public functions, the special career acceleration measure and the evolution observed in careers linked to the health and education sectors.”
The increase in spending on acquisition of goods and services (10.8%) “particularly reflects the evolution of the National Health Service, that is, the acquisition of medicines and the provision of health services.”
The DGO states that “excluding the budgetary impact of the extraordinary measures, effective spending and primary spending showed, respectively, a growth of 11.4% and 11.5%.”
Source: Observadora
