The Spanish government deficit amounted to 11.984 million euros (13,000 million euros) in the first quarter of the year, representing 1.09% of GDP in terms of national accounts, 18% less than in the same period of 2014.
According to data released today by the Ministry of Finance, this reduction is the result of revenues that grew 4% and 0.5% decline in expenditure.
In the first quarter of the year, government revenues amounted to 57.837 million euros, 2,245 million more than last year.
Finance reports that this result was due to tax revenues 6.7% compared to April 2014 increased.
In this regard, it stresses the 8.8% rise in VAT revenue in the first quarter and increased 5.8% in current taxes on income and wealth.
On the other hand, state expenditures amounted to 69.821 million euros, 0.5% less than in the same period of 2014.
In addition, consolidated for the first quarter the central government, autonomous communities (regions) and Social Security deficit reached 8.602 million euros (0.78% of GDP), compared to 0.95% in February.
The central government had a deficit of 9.131 million euros at the end of March, equivalent to 0.83% of GDP, below the previous month’s deficit which stood at 1.06% of GDP .
The social security funds recorded a surplus of 2.719 million through March, equivalent to 0.25% of GDP, 0.07 points less than in the same month of 2014.
The autonomous communities had a negative balance of 2,190 million euros, 23.3% less than in the same period of 2014.
In terms of GDP, the regional deficit equivalent to 0.20% , down from 0.27% in the same period of 2014.
According to the Stability and Growth Pact of the European Union, Spain aims for 2015 to 4.2% deficit.
© EFE 2015
© ZGS 2015
No comments:
Post a Comment