The public deficit was reduced in September to 22,448 million, 1.54% of GDP

The deficit of all public administrations stood at 1.54% of GDP until September, with 22,448 million euros, which represents a decrease of 0.9% compared to the same period of the previous year, according to The Ministry of Finance reported this Thursday. Including aid to financial institutions, the public deficit has stood at 1.56% of GDP. For its part, the deficit of the State alone, in this case until the month of October, has stood at 1.37% of GDP -compared to 1.58% for the same period last year-, reaching 20,053 million euros, which represents a decrease of 5.7% compared to the same period of the previous year.

2021, carried out in July 2023, assuming an increase in the deficit for the State of 11,798 million. Until the month of October, the non-financial income of the State has stood at 222,917 million euros, which implies 0.4% more compared to the same period in 2022.

Tax collection grows 3.1%

Specifically, taxes reach 186,454 million, 83.6% of total resources, and grow by 3.1% compared to October 2022. For their part, taxes on production and imports increase by 2.2 %. Within non-financial resources, as tax developments for 2023, the new Special Tax on Non-Reusable Plastic Containers, the Temporary Energy Tax, the Temporary Tax on credit entities and financial credit establishments and the Temporary Tax on Non-Reusable Plastic Containers stand out. Solidarity of Great Fortunes, which have allowed a joint collection of 3,934 million until October.

Current taxes on income and wealth reach 87,659 million, a figure 4.2% higher than that of the first ten months of 2022, due to the fact that income from Corporate Tax increased by 7.9%, to 39,009 million. “This increase is mainly due to the increase in collection of installment payments and, on the other hand, the increase in the corresponding income from the annual declaration by 11.8%,” the Ministry of Finance has clarified. For its part, the personal income tax reaches 43,401 million, 3.6% lower than the volume of 2022, while the income from the Non-Resident Income Tax with 2,911 million rises by 18.7%.