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The preliminary fiscal result for the January-June period compiled by the statistics office was 424.5 million euros (1.3% of GDP), while the surplus for the January-June 2023 period was 62 million euros (0.2% of GDP).
According to the statistics office, total revenues for the period from January to June 2024 increased by €800.1 million (+14.5%) to €6,313.2 million, compared to €5,513.1 million in the same period of 2023. Specifically, total production and import taxes increased by €127.8 million (+6.3%) to €2,147.6 million, compared to €2,019.8 million in 2023, of which net VAT revenues (after deducting refunds) increased by €88.4 million (+6.6%) to €1,428.8 million, compared to €1,340.4 million in 2023.
Revenues from income and wealth taxes increased by €224.9 million (+18.8%) to €1,422.3 million, compared to €1,197.4 million in 2023. Social contributions increased by €286 million (+16.5%) to €2,018.2 million, compared to €1,732.2 million in 2023.
Interest and dividends received increased by €18.7 million (+36.3%) to €70.2 million compared to €51.5 million in 2023, while current transfers increased by €27.6 million (+19.0%) to €173.2 million, and will reach €145.6 million in 2023.
Revenue from services rendered increased by €137 million (+43.0%) to €455.4 million, compared to €318.4 million in 2023. In contrast, capital transfers decreased by €21.9 million (-45.4%) and were limited to €26.3 million, compared to €48.2 million in 2023.
Total expenditure in the period January to June 2024 increased by €437.5 million (+8.0%) to €5,888.7 million, compared to €5,451.1 million in the same period of 2023. Specifically, intermediate consumption increased by €47.9 million (+9.1%) to €576.7 million, compared to €528.8 million in 2023.
Employee remuneration (including estimated social contributions and civil servants pensions) increased by EUR 203.8 million (+12.5%) to EUR 1,830.9 million compared to EUR 1,627.1 million in 2023.
Social benefits increased by €170.2 million (+7.7%) to €2,378.1 million, compared to €2,207.9 million in 2023. Current transfers increased by €80.7 million (+21.0%) to €464.6 million, compared to €383.9 million in 2023. Interest payments increased by €30.3 million (+15.5%) to €226.4 million, compared to €196 million in 2023.
The capital account decreases by €66.2 million (-16.0%) to €347.2 million compared to €413.4 million in 2023, with fixed capital investments decreasing by €67.2 million (-18.8%) to €290.9 million compared to €358.1 million in 2023, and other capital transfers increasing by €1 million (+1.8%) to €56.3 million compared to €55.3 million in 2023. On the contrary, it is worth noting that subsidies decrease by €29.2 million (-31.1%) to €64 to €8 million compared to €94 million in 2023.
Source: KYPE
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