The government deficit rose to 2.68% of GDP by July, while the public deficit fell to 2.14% in the first half

Until July, the state deficit amounted to 37 billion 682 million euros. increased by 56.8% compared to the same period of the previous year (24.027 million) and is equivalent to 2.68% of GDP, Compared to the current 1.81% in July 2022.

As described by TreasureGovernment deficit rises to 2.68% of GDP in July 0.87 percentage point increase It is due to the impact of final payments of the 2021 financing system in favor of autonomous communities and local organizations in the amount of 11,798 million compared to last year – 6,106 million compared to the same period of the previous year – in favor of the State.

Therefore, if the detailed result of the final settlements mentioned above, taking into account the impact of recording personal income tax in the national accounting and the expense items for covering negative balances, are deducted from the deficit of both periods, the state deficit in the seventh month of the year It will be 5.9% lower than the same period in 2022According to treasury calculations.

The joint deficit of the Central Government, Social Security and autonomous communities, excluding financial aid, amounted to 30 billion 186 million euros until June. This represents a decrease of 5.1 percent compared to the previous year and amounts to 2.14 percent of GDP – compared to 2.40% in the same period in 2022.

If you include balance of aid to financial institutionsThe budget deficit was reduced to 2.17% of GDP, according to data provided by the Ministry of Finance and Public Services on Monday.

Specifically, the Central Government’s deficit stood at 21,203 million at the end of June 2023; this is 1.51% of GDP compared to 1.82 last year; while the autonomous communities recorded a deficit of 12,110 million, equivalent to 0.86% of GDP. compared to 0.65% achieved in the same period in the previous year.

Finally, Social Security Funds recorded a surplus of 3,127 million through June 2023, an increase compared to 971 million last year. In terms of GDP, the Social Security Funds surplus is 0.22% of GDP, above 0.07% in 2022.

State tax revenue increased by 0.9%

Going back to the government deficit, its behavior until July, non-financial resources –income– They stand at 142.890 millionThis means 3.6% less than in the same period in 2022. Among them, taxes reached 116,288 million, accounting for 81.4% of total resources, after a slight growth of 0.9% compared to July 2022.

Production and import taxes increased by 1.4%, reaching 69,127 million; 52,080 million of this corresponded to VAT revenue, a figure 0.8% lower than in 2022.

Tax news for 2023 among non-financial sources Entry into force of new Special Tax on Non-Reusable Plastic Packaging (345 million), temporary energy tax (753 million) and temporary tax applied to credit institutions and financial credit institutions (587 million), totaling 1,685 million.

The company’s revenue increased by almost 14%

For their part, current taxes on income and wealth have reached the following level: 47.028 million, This figure was 0.4% higher than the first seven months of 2022, due to the increase in Corporate Tax revenue by 13.3% to 12,422 million TL, resulting from the increase in the first installment collection.

For your part, Personal income tax decreased by 6.8% to 31 billion 649 millionNon-Resident Income Tax revenue was 2 billion 128 million liras, increasing by 28.8 percent. Likewise, taxes on capital reached 133 million euros and revenues from social contributions decreased by 2.2%.

Expense increase

In expenditures until July, Non-financial affairs of the state reached 180.572 millionThis figure is 4.8% higher than the figure recorded in the first seven months of 2022.

The largest volume item is transfers between public administrations. 64.2% weight in total non-financial business. Specifically, in the first seven months of the year, these amounts reached 115,842 million; this was 8% more than the previous year; The main reason for this was the additional provision of 1.666 million allocated to autonomous communities and local companies to compensate for the negative general balance of the budget. The liquidation of 2020.

Next to you Employee wages increased by 3.7%. The 2.5% increase in public salaries was effective in this title, which is 12 billion 80 million.

Source: Informacion


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