The Directorate General of the Budget (DGO) publishes this Friday a summary of the budget execution for public accounts until May, after the state recorded a deficit of 1939.2 million euros until April.
According to information published in the latest budget execution report, the deficit recorded at the end of the first four months of 2024 represents a decrease of 6,027.3 million euros compared to the same month last year.
This development in the balance of government accounts was the result of the combined effect of revenues, which increased by 4.5% year on year, and expenditures, which increased by 14.7%.
Until April, the government’s tax receipts amounted to €15,641.3 million, representing a decrease of 0.6% year on year and which was mainly explained by the effect of payments related to the IRC deferred tax asset regime and the extension of the payment period. VAT.
Excluding these effects, tax revenues rose 2.8% in the first four months of this year.
The balance sheet of the general government, published monthly by the DGO, is in public accounting, that is, it operates from a cash perspective (cash inflows and outflows), which differs from the national accounting (liability perspective), which complies with European rules, with the balance sheet calculated by the National Institute of Statistics (INE).
According to information released this Monday, June 24, by the INE, the general government sector recorded a deficit of 0.2% of the gross domestic product (GDP) in the first quarter.
Author: Lusa
Source: CM Jornal
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