The Directorate General of the Budget (DGO) publishes this Friday a summary of the budget execution in the state accounts until August, after the state recorded a surplus of 2.118 million euros until July.
According to a statement issued at the time by the Ministry of Finance, the (adjusted) surplus recorded in July, from a government accounting perspective, corresponds to an improvement of €1.546 million compared to the same period last year.
This change reflects an 8.6% improvement in effective revenue on an adjusted basis and a 5.9% increase in effective expenses.
According to the DGO, state tax revenues in the first seven months of this year amounted to 30,925.8 million euros, an increase of 9.2%.
“In aggregate terms, tax revenues show an increase of 9.2% (2606.9 million euros), partly influenced by the extension of tax payments to the IRS (27.8 million euros) and IRC (5.9 million euros) in July 2022, and also the extension of VAT payment, which negatively affected revenues in 2023 by 231.4 million euros,” explains the summary of budget execution.
In the first seven months of this year, revenue from direct taxes (which affects income) increased year-on-year by 14.3%, while indirect taxes increased by 5.5% compared to the same period in 2022.
DGO data also shows that measures to mitigate the impact of the energy and inflation crisis cost the state 1.516 million euros up to July.
Overdue payments from state-owned enterprises at the end of July amounted to 809.9 million euros, which is 115.5 million euros less than in the same period last year.
Author: Lusa
Source: CM Jornal
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