Deficits of all public administrations except city councils, Reached 27 billion 631 million euros That is, until November 2023 1.89% of GDP, 4.3% less More than in the same period last year, as reported by the Ministry of Finance this Wednesday.
If the balance of aid to financial institutions of 324 million is included, the public deficit stands at 1.91% of GDP by November, a month before data close for 2023, when the Government’s target is a record deficit of 3.9%. .
This result is a consequence of 7.7% growth in non-financial incomeNon-financial expenses increased by 6.9% to 594 billion 384 million euros.
Among the revenue, the total from taxes was 283,044 million euros; this figure is 6.4% more; 2.4% increase in taxes on production and imports (124,991 million) and a 10.4% increase in current taxes on income and wealth (155,132 million).
on the side billsemployees’ wages increased by 5.8% to 116.719 million; intermediate consumption increased by 6.9% (48,958 million), interest payments increased by 9.1% (30,153 million) and social benefits excluding in-kind transfers increased by 10.1% (218,829 million).
When the data is examined by subsectors, the Central Government deficit until November stands at 27 billion 671 million euros (excluding financial aid) in November 2023, which corresponds to 1.89% of GDP. When aid to financial institutions is included, the deficit reaches 27 billion 995 million euros.
The state registered in its own name a deficit equivalent to 2.15 percent GDPThe total reached €31,381 million compared to the current 2.22% in November 2022.
Additionally, entities within the Central Government recorded a surplus of 0.25% of GDP, excluding financial aid, compared to the surplus of 0.20% of GDP achieved in November 2022.
CCAA’s deficit is 0.32% of GDP
Communities as a whole recorded a deficit of 4.668 million at the end of November; this amounts to 0.32% of GDP; This figure is 40.3% lower than the figure achieved in the same period in 2022. This result is because 4.3% increase in expenses, Revenue increases by 6%.
CCAA taxes increased by 14%
Especially in the first eleven months of the year, tax revenues the autonomous communities grew by 14%It reached 79 billion 663 million euros. Among these, taxes on production and imports decreased by 1.8%, reaching 17 billion 216 million lira.
On their part, revenue from income and property taxes It increased by 20.8%, reaching a total of 59,711 million, mainly due to account payments and payment of personal income tax.
Likewise, revenue from taxes on capital decreased by 6.3% until November, reaching 2 billion 736 million euros.
Transfers between AAPP reached 112.857 million. Transfers received into the financing system represent 7,980 million more, an increase of 10.8% over the previous amount.
On the spending side in communities, employees’ wages increased by 6.3%, This is due in part to the 2023 salary increase of 3% applied to the consolidated amount, which was 3.5% at the end of 2022.
Ara consumption increased by 7.4% and reached 36 billion 354 million, of which almost 60% (21 billion 745 million) belongs to the health sector. Subsidies increased by 5 percent compared to the end of November 2022, reaching 4 billion 282 million lira. Interest rates increased by 44 percent and reached 4 billion 531 million.
Social Security Funds
When it comes to Social Security funds, they have a registry. Surplus of 4 billion 708 million euros By November this represented 0.32% of GDP.
This result is due to a 9% growth in revenues compared to a 10.1% increase in expenses (contribution behavior stands out with a 9.9% growth).