In January, the state recorded a surplus of 1.177 million euros, reflecting a decrease of 934 million euros compared to the same month the previous year, the Ministry of Finance reported this Thursday.
In a statement, the ministry led by Fernando Medina noted that although it remains in positive territory, the budget balance was “lower” than in the first month of last year, reflecting an increase in expenditures over revenues, with tax revenues even registering the decrease compared to the same period last year was 8.0%.
“The change in balance compared to January 2023 reflects a slight improvement in effective revenues of 0.4%” and “an increase in effective expenditures of 15.7%,” it said in a statement ahead of the release of the General Budget Office’s summary of budget execution. (DGO).
The data published this Thursday by the government is presented from a national accounting perspective, which differs from the national accounting published by the National Statistics Institute (INE) and traditionally used in international comparisons and in Brussels assessments.
Author: Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.