The general government deficit (AP) reduced decreased from 971 million euros over the first half of 2015, according to budget execution June, released today, Monday, in a press release of the Ministry of Finance.
“This reduction in view of public accounting, cut across all sectors of the AP. Results from a stabilization of spending (+ 0.2%), accompanied by an increase in revenue (2.9%). The improvement in the first half of the deficit far exceeds the amount provided in the 2016 State Budget “, maintains the same statement.
According to Finance,” the economy and the labor market have shown signs that support favorable development of tax revenues and social security contributions “.
Since the tax revenue increased by 2.7%,” despite the increase of tax refunds at 410 million euros, “with contributory revenue to grow 3.8 %, due primarily to the 4.7% increase “in contributions and contributions to Social Security.”
the Government also recognizes that “spending remained an evolution worse than in the State Budget on two key priorities of the current fiscal policy: the rationalization of intermediate consumption and the wage policy and public employment. ” In Central Administration and Social Security, the cost of acquisition of goods and services were down 2.7% and the cost of fixed and permanent wages grew 2.2%.
In turn, the primary balance recorded a surplus of 2122 million euros, resulting in an improvement of 1 244 million euros over the same period of 2015. The primary expenditure of AP was reduced by 194 million euros.
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