05.04.2022
The preliminary budget results prepared by the Statistical Office for the period January to March 2022 show a general government surplus of 1% of GDP, amounting to EUR 239.3 million, compared to a deficit of EUR 137.4 million (0.6 % of GDP) for the period January-March 2021.
According to data released on Wednesday by the Statistical Office, a large decrease compared to the same period in 2021 was observed in subsidies, while a large increase was observed in the collection of taxes, both on production and imports, as well as on profit taxation.
In particular, total spending for the period January-March 2022 decreased by 72.1 million euros (-3.2%) and was capped at 2,212.6 million euros compared to 2,284.7 million euros in the corresponding period of 2021.
Subsidies were reduced by 254.1 million euros and were capped at 20.7 million euros, compared to 274.8 million euros in 2021. Current transfers decreased by €2.4m (-1.5%) and were capped at €157.9m, compared to €160.3m in 2021.
In contrast, social benefits increased by €91.4 million (11%) to €921.1 million, compared to €829.7 million in 2021. €717.1 million compared to €688.7 million in 2021. Intermediate consumption increased by €32.1 million (+18.6%) to €204.7 million compared to €172.6 million in 2021. Interest paid increased by 13.8 million euros (+20.1%) to 82.4 million euros compared to 68.6 million euros in 2021.
The capital account increased by €18.6 million (+20.7%) to €108.7 million compared to €90.1 million in 2021.In particular, investments in fixed assets increased by 5.3 million euros (+7%) and amounted to 80.0 million euros compared to 90.1 million euros in 2021. to €74.8 million in 2021, while other capital transfers increased by €13.4 million to €28.7 million from €15.3 million in 2021.
On the other hand, total revenue for the period January-March 2022 increased by 304.6 million euros (+14.2%) to 2,451.9 million euros compared to 2,147.3 million euros in the corresponding period of 2021 .
In particular, total taxes on production and imports increased by 108.5 million euros (+14%) to 885.9 million euros compared to 777.4 million euros in 2021, of which net VAT income (after deducting refunds ) increased by 80.8 million euros (16.2 million euros). %) to 579.7 million euros compared to 498.9 million euros in 2021. Income and wealth tax revenue increased by €129.3 million (+26.9%) to €609.8 million compared to €480.5 million in 2021. Social contributions increased by 115.7 million euros. (+18.4%) and amounted to 744.7 million euros compared to 629.0 million euros in 2021. Services revenue increased by €15.4 million (+12.3%) to €141.0 million compared to €125.6 million in 2021. Current transfers increased by €0.8 million (+1.9%) to €42.0 million, compared to €41.2 million in 2021.
In contrast, capital transfers decreased by €58.4 million and were capped at €4.1 million, compared to €62.5 million in 2021.Interest and dividends received decreased by €6.7 million (-21.5%) and were capped at €24.4 million, compared to €31.1 million in 2021.
