Budget Execution Summary, September 2015, DGO

Page created: Friday, 23 October 2015 17:29GMT | Updated: Wednesday, 28 October 2015 16:39GMT

Press Release:  23 October 2015 - 48 Page(s)
Tags:
Budget and Execution  Expenditure  Revenue  Social Security  State Budget

In the period January-September 2015 the General Government balance, on a cash basis approach (that is, revenues minus payments) amounted to -3,156.5 million euros, which corresponded to a primary balance of 2,460.6 million euros. Considering the comparable universe1, the General Government overall balance has improved 899.9 million euros over the same period of the previous year as a result of the combined effect of increased revenue and decreased expenditure.
Total revenue increased 0.7%, due to the increase in tax revenue (5.3%) partially offset by a reduction in the remaining components. The reduction in expenditure (-0.9%) was determined by the decrease in expendi-ture on subsidies to vocational training and unemployment benefits and employees’ compensation that more than offset the observed increase in other expenditure items, especially the investment, the purchase of goods and services and interest and charges associated with public debt.