Spain caresses the deficit target for the containment of spending and the rise of the levy

The prozealous path that public administrations have made more than a luster to play the public deficit is accelerating in recent months. The administrative sectors (central State, autonomous Communities, Social security and city councils) have advanced substantially in the containment of their red numbers by the rise of the collection and the containment of public expenditure. Official figures show that the deficit of the public administrations as a whole — the difference between expenditure and public revenue — during the first semester amounted to an amount equivalent to 2.15% of GDP, 23.4% less than in the same period Previous exercise. Although this budgetary gap will tend to increase during the remainder of the year because of the worst behavior of Social security accounts by the end of the year, by the extra payments, and the autonomous communities, they usually leave the execution of some expenses for the end. The target of official deficits marked in red by Brussels amounts to 3.1% of GDP. The dynamic calculation of the public deficit until August — with the cumulative figures of the last 12 months — is reduced to 3.25% by the budget hole of the administrations as a whole. Only one tenth more than the target for four months to end the year. In the calculations offered this Wednesday by the Ministry of Finance takes into account the upward revision of GDP made by the National Institute of Statistics (INE) A couple of weeks ago. Thus, when the denominator is increased, the/PIB deficit ratio is lower. The ministry has released this Wednesday a battery of data from different administrations in different periods of time. Among them, the execution data of the central state corresponding to the month of August, whose deficit was equivalent to 1.84% of GDP, have been published. The consolidated deficit of the Central administration, Autonomous Communities and Social security registered in the period January-July, which amounts to 2.31% of GDP, excluding financial aid, has also been disseminated today. "Finally, the budget execution data of the local corporations for the second quarter of the year 2017 have been published, which recorded a surplus of 1.874 billion euros until June, an increase of 60.3% over the same period Of the previous year, "explains the Ministry of Finance in a statement.