MADRID (Reuters) – The public deficit of the public administrations as a whole, excluding local councils, until the month of July stood at 3.09 per cent of GDP, up from the 2.2 percent reached until may (latest comparative data available), said Tuesday the Ministry of Finance in a note.
The greater part of this deficit corresponded to the central State, whose negative balance in July amounted to 29.652 million euros, a 2.66 percent of GDP.
On a separate note, the Treasury explained that part of this increase in the deficit was due to the corporate tax, whose collection has fallen 38 percent this year.
the Treasury said that the regions managed to lower their deficit at the end of July on a 90 percent to 830 million euros, while the Social Security closed July with a negative balance of 5.683 million euros or 0.53 percent of GDP.
Along with the consolidated data, By published the central State’s deficit at the end of August, which amounted to 31.091 billion euros, a 2.79 per cent of GDP and an increase of 4.313 million euros compared to the same month of 2015.
The Government has set the goal of closing by 2016 with a consolidated deficit of 4.6 percent of GDP compared to 5.0 percent in 2015.
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