Community income grew 14.4% while expenses increased 6.5%
In Catalonia, the positive balance amounts to 1,534 million euros, 0.67% of the regional GDP.
The autonomous communities they accumulate a surplus of 12,379 million euros (equivalent to 1.02% of GDP) until the month of October. According to the data published this Thursday by the Ministry of Finance, all the autonomous regions accumulated a surplus in the first ten months of the year, except Murcia, which posted a slight deficit of 53 million (0.16% of GDP). In the case of Catalonia, the positive balance amounts to 1,534 million euros, 0.67% of regional GDP.
The good state of the regional accounts until October has to do with the strong increase in income, which grew by 14.4%, driven by the collection of taxes such as that of Patrimonial Transmissions (which rises almost 50%) and by transfers from the State (covid fund) and the EU. Against this, expenses grew significantly (6.5%), especially in education and health, but much less than income.
Consolidated deficit until the third quarter
Along with the data of the autonomies until the month of October, the Ministry of Finance has also published that Thursday the data of the deficit of the set of administrations until the third quarter of the year (September), which amounts to 48,459 million euros. This figure is 36% lower than that of the same period in 2020 and is equivalent to 4.01% of GDP. The public deficit target for the year as a whole is 8.4% of GDP and according to different organizations the final result could be somewhat lower.
By different levels of administration, the State accumulated a deficit of 4.41% of GDP until September and Social Security, 0.58%. The autonomies recorded a surplus of 0.76% and local corporations, 0.23% of GDP.
State deficit until November
In addition, the Treasury has also published this Thursday the data corresponding to the State accounts until the month of November. In this case, the State deficit stood at 65,677 million euros in November, which represents a decrease of 9.2% compared to the 72,365 million in the same period of the previous year. This result, according to the Ministry of Finance, is due to “a robust increase in non-financial income of 18.0%, compared to the behavior of Expenses, which are growing at a slower rate of 9.6%. “However,” the published data continue to reflect the impact on income and expenses of the health emergency and of the measures approved to mitigate the social consequences of the pandemic, “says the Ministry of Maria Jesus Montero.
Among taxes, income from VAT rise by 17.7%, while the Tax on insurance premiums increases 32.7%. Current taxes on income and wealth grew 25.2% due to personal income tax, which increased 21.8%. The increase in corporate tax, which rises 30.7%, mainly due to the advance of the installment payments of 2021 higher than those of 2020 by 65%. For their part, capital taxes they grew 112.0%, compared to the same period of the previous year. Income from social contributions they fell slightly 1.7%.