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The autonomies accumulate a surplus of 12,379 million until October

  • 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 accumulate a surplus of 12,379 million euros (equivalent to 1.02% of GDP) until October. According to the data published this Thursday by the Ministry of Finance, all the autonomies 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 Catalunya , the positive balance amounts to 1,534 million euros, 0.67% of regional GDP.

The good state of the regional accounts up to October has to do with the strong increase in income, which grew 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 from the EU. Against this, expenditures 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 autonomous regions up to 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 objective 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 the GDP until September and the Social Security, of 0.58%. The autonomies recorded a surplus of 0.76% and the local corporations, 0.23% of GDP.

State deficit until November

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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 performance of expenses , which grew at a slower rate of 9.6% “. All in all, “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 María Jesús Montero .

Among taxes, income from VAT rise a 17.7%, while the Tax on insurance premiums increased by 32.7%. Current taxes on income and wealth grew by 25.2% due to personal income tax, which increased by 21.8%. Also influencing the increase in corporate tax, that rises by 30.7%, mainly due to the advance of the installment payments of 2021 superior to those of 2020 by 65%. For its part, the capital taxes grew 112.0%, compared to the same period of the previous year. The income from the social contributions decreased slightly by 1.7%.

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