all your deficit public administrations -except domestic companies- decreased by 70.3% in the first four months of the year compared to the same period of the previous year, Up to €7,884 million, equivalent to 0.60% of GDP, in the context of improved tax collection and moderate spending.
Data released on Thursday, Treasure Also, due to the significant increase in revenue from large taxes, they are pushing the execution of the State budget to 17,837 million, which is equivalent to 1.36% of GDP, by May, a period when it cut its deficit in half.
The Treasury made the following statements in its statement: The downward path in the state deficit that started in 2021 continues As a result of the economic recovery and job creation, revenues increased by 19.2% until May, while the increase in expenditures decreased to 3.3%. In total, the State entered 83,233 million of which 84.6% came from taxes.
VAT collections increased by 22.8% and personal income tax by 32.5%, while non-residents’ incomes increased by 83.6% and corporate tax by 20.7%. The expenditures were realized as 101,070 million, 57.7% of which corresponds to transfers between public administrations of 58,351 million. This includes compensation to autonomous communities for the system to come into effect in 2017 for the immediate supply of VAT information (SII) leading to a reduction in revenue. Salaries of civil servants totaled 7,535 million for 2022, a growth of 3% with a 2% salary increase.
debt interest reached 11,290 million, lor representing a growth of 18.3%.
Reducing the deficit in Autonomous Communities
Autonomous communities closed April with a deficit of 1.906 million, almost half of what it was in the same period in 2021. a figure equivalent to 0.15% of GDP, as expenses grow more slowly than income.
Tax revenues reached 2.347 million, 10.8% more, among them 34.1% growth of those collected through property transfer tax and documented legal proceedings. They also increased Income from income and wealth taxes at a rate of 6.6% up to 16,996 million. Current transfers from the government amounted to 29.930 million, 2.3% more, of which 3.086 million corresponds to compensation for the application of LII-VAT.
Nine communities closed the period with a deficit, The largest for the Commonwealth of Valencia (1,072 million), followed by Catalonia (901 million), Balearic Islands (273 million), Murcia (224 million), Canary Islands (170 million), Castilla-La Mancha (165 million), Extremadura (48 million) ), Navarra (96 million) and Madrid (9 million). The rest closed April with surpluses, the largest being the Basque Country (373 million), Castilla y León (164 million) and Asturias (151 million).
Social Security Funds had a deficit of 1.523 million, equivalent to 0.12% of GDP, which was 34% less than the previous year due to the decrease in spending. The first application data for 2022 of local companies, which had a deficit of 183 million, equivalent to 0.01% of GDP in the first quarter, was published today. With these data, the public deficit It decreased by 77.1% in the first quarter to 0.36% of GDP.
Source: Informacion
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