The government deficit increased to 2.54% of GDP by August, and the public deficit increased to 2.19% by July

According to the Ministry of Finance, the increase in the government deficit to 2.54% of GDP in August – which represents an increase of 0.65 percentage points compared to the same period in the previous year – is due to the impact of final payments. The 2021 financing system amounts to 11,798 million in favor of autonomous communities and local organizations, compared to last year with 6,106 million in favor of the State.

Regarding the common deficits of the Central Government, Social Security and autonomous communities, excluding financial aid, It was at the level of 31 billion 299 million euros until JulyThis represents an increase of 19.1% compared to the previous year and amounts to 2.19% of GDP, compared to 1.95% in the same period in 2022.

If the balance of aid to financial institutions is included, the deficit rises to 2.21% of GDP, according to data provided this Friday by the Ministry of Finance and Public Service.

In particular, the Central Government’s deficits are as follows: 34.449 million at the end of July 2023The autonomous communities had a deficit of 2.41% of GDP, compared to 1.633% last year, while the autonomous communities had a deficit of 1,142 million, equivalent to 0.08% of GDP, compared to 0.36% reached in the same period the previous year. noted.

Finally, by July 2023, Social Security Funds had a surplus of 4 billion 292 million, an increase compared to 561 million last year. In terms of GDP, the Social Security Funds surplus is 0.30% of GDP, above 0.04% in 2022.

State tax revenue increased by 1.6%

Going back to state data, non-financial resources –revenue– stands at 163.379 million; This means 2.4% less than in the same period in 2022. Taxes reached 133.961 million, or 82% of total resources, and increased by 1.6% compared to August 2022.

According to the report, taxes on production and imports increase by 1 percent. Among non-financial sources, tax developments for 2023 include innovations such as the new Special Tax on Non-Reusable Plastic Containers, the Temporary Energy Tax, the Temporary Tax on credit institutions and financial credit institutions, and the temporary solidarity of large fortunes. In terms of national accounting, the total amount by August was 2,285 million.

Collection increased by 11.8% according to companies

On their side Current taxes on income and wealth reached 58 billion 436 millionCompared to those realized in 2022, the Corporate Tax revenue was 2.6% higher than in the first eight months of 2022, due to an increase of 11.8% to 21.281 million, mainly due to the increase in the collection of the first installment by 21.8%.

While Personal Income Tax reached 32 billion 904 million with 7.1 percent compared to last year, Non-Resident Income Tax revenues reached 2 billion 595 million liras with an increase of 28.9 percent.

Expenses increased by 3.6%

The government’s non-financial uses – expenses – through August were set at 199.692 million. 3.6% higher Based on what was recorded in the first eight months of 2022.

The largest item is transfers between public administrations, accounting for 63.5% of the total non-financial affairs. Specifically, in the first eight months of the million, 7.9% more than the previous year; This is mainly due to the additional provision of 1.666 million allocated to Autonomous Communities and Local Enterprises to compensate for the negative general balance of the 2020 agreement.

On the one hand, the Regional Administration received 69.867 million. 62,001 million of the total transfers correspond to the financing system, 11.4% more than in 2022, of which 53,664 million are payments from the account, and the rest correspond to the impact on the final settlement expense for 2021.

Against this, Social Security System receives 29.753 million, 5.058 million more than in 2022It arises mainly from the allocation allocated to financing contribution-related maternity and child care benefits.

Local Government received 17 billion 299 million lira, an increase of 15.1 percent compared to last year. 15,136 million of the total transfers correspond to participation in state revenue; This means an increase of 6.7% compared to the previous year. Of this final amount, 14.442 million are payments on account and the remainder relates to the impact on expenses of the 2021 final settlement.