Social Security posted a deficit of 287 million by August

Social Security ran a deficit of 287 million euros in the first eight months of the year. 0.02% of GDPThis is 8.1% more than expenditures worth 121,682 million (+4.2% year-on-year), after entering 121,395 million euros during this period, according to data released this Friday. Ministry of Inclusion, Social Security and Immigration.

The Department, headed by José Luis Escrivá, stressed that the deficit of the system has decreased due to the good performance of income from social contributions. increase from year to year exceeds 2.5 percentage points of spending on pensions.

In particular, income from contributions improved 9% annually up to €92,655 million in the first eight months, which is an all-time high for this period in the last 15 years.

Revenue from contributions this year reaches 12.7% when compared to last year 2019, which was not affected by the pandemic. 10,428 million euros more collections.

Increase in wage income driven by employee quotes, Reaching 87,146 million Euros with an increase of 10.2% until August, the number of unemployed persons decreased by 7.9% to 5,519 million due to the decrease in the number of unemployed.

Source: Informacion

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