The state recorded a deficit of 2,731 million euros in the year to June, which means a decrease of 7,574.5 million euros compared to the same period last year, it was announced this Wednesday.
This evolution was due to the “combined effect of a decrease in revenues (4.1%) and an increase in expenditures (11.2%),” the Directorate-General of Budgets (DGO) indicates in its budget execution summary.
Compared with the previous month, the deficit increased by 178 million euros, “recording a slowdown in the trajectory”.
The DGO notes that “the change in balance is affected by the transfer in 2023 of all obligations guaranteed by the Caixa Geral de Depósitos (FPCGD) Staff Pension Fund to the CGA”, and this operation does not affect the balance in the national accounts.
“Adjusted for the effect specific to FPCGD, the AP budget balance decreased by 4,556.2 million euros compared to that recorded in the same period of the previous year, due to the fact that the increase in expenses (11.2%) was greater than that in revenues (1.7%),” the organization points out.
Author: Lusa
Source: CM Jornal
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