The State recorded a surplus of 6304.1 million euros until September, an improvement of 610.8 million euros compared to the same period last year, according to the budget execution summary released today.
“Public Administrations (PA) presented an overall balance of 6304.1 million euros (which compares with 5693.3 million euros in the same period last year), which translates into a year-on-year increase of 610.8 million euros”, reads the document released today by the Budgetary Entity (EO), formerly the General Directorate of the Budget (DGO).
This evolution was due to the fact that the increase in revenue (6.6%) was greater than that in expenditure (6.3%).
On the revenue side, the increase in tax revenue from Public Administrations stands out, which was based on the evolution of State revenue, with essential contributions from VAT (8.7%) and IRS (7.1%), “also recording significant increases in ISP (12.3%) and Tobacco Tax (10%), while IRC showed a negative variation (-4.3%)”.
According to the budgetary entity, Local Government revenue also recorded a relevant increase, with emphasis on IMT (28%).
In terms of expenditure, personnel expenses stand out, which grew by 8.7%, mainly due to “measures to increase the remuneration of workers in public functions”, explains the EO.
On the other hand, expenditure on interest and other charges borne by Public Administrations fell 1.1%, due to the behavior of interest borne by reclassified public entities, in particular by Metropolitano de Lisboa and CP – Comboios de Portugal, as well as, to a lesser extent, by the National Entity for the Energy Sector.
The post State records surplus of 6304.1 million euros until September appeared first on Veritas News.
