The deficit of the public administrations as a whole, excluding financial aid, stood at 15,527 million euros until March, which means adding 4,747 million to the figure registered a year earlier, 44% more, as a result of the impact of the pandemic , so it scales to 1.28% of GDP, according to data provided by the Ministry of Finance.

However, with regard to the State deficit until April, the figure stands at 1.40% of GDP and falls by 15.1% compared to the same period of the previous year.

“The data for April show a change in trend and for the first time since the beginning of the pandemic there is a decrease in the State deficit compared to the same period of the previous year,” explained the Ministry led by María Jesús Montero through a statement. As they have pointed out, this behavior is derived from the recovery of economic activity as a result of the advancement of the vaccination campaign in contrast to the total confinement that existed in April 2020.

Regarding the public deficit until March, that of the Central Administration stood at 10,778 million, 0.89% of GDP, and the deficit of the State in March, in terms of GDP, is equivalent to 0.87%, reaching the figure of 10,496 million.

For their part, the Central Administration bodies registered a deficit of 282 million at the end of March, compared to the deficit of 448 million in March 2020, which represents a decrease of 37.1% year-on-year .

The regional administration registered a deficit in March of 3,486 million euros, which is equivalent to 0.29% of GDP. This result is due to an increase in expenses of 4%, compared to an increase in income of 2.3%. According to the information transmitted by the autonomous communities to the Treasury, 1,889 million correspond to social-health expenditure derived from Covid-19 until March.

As for Social Security funds until March, they registered a deficit of 1,263 million, which represents 0.10% in terms of GDP, and a fall of 40.8% compared to the same period in 2020. This improved performance , explains the Treasury, is the consequence of an increase in income of 11% (highlighting the good performance of prices) compared to the growth of expenses of 8.5%.

Regarding the data of the State deficit until April, it registered a negative balance equivalent to 1.40% of GDP, compared to 1.77% registered in the first four months of 2020. This result is due to an increase in income non-financial resources of 6.7% , compared to the more moderate increase in expenses of 1.1%. Specifically, non-financial resources amounted to 61,314 million, growing tax revenues by 12% compared to April 2020, to 52,428 millions.

Taxes on production and imports increased by 3.9%, of which VAT income grew by 7%, while current taxes on income and wealth improved by 29.1%, due to personal income tax, which grew 22%.

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