“As part of the mitigation of the geopolitical shock, in March, a decrease in revenue was reported by 249.8 million euros and an increase in total expenditure by 673.9 million euros”, indicates the summary of the budget execution released today by General Directorate of Budget (DGO).
Measures to mitigate the effect of the energy and inflationary crisis cost 923.7 until March, with the amount including payments related to the allocation of funds to the National Electric System for tariff reduction, according to DGO.
On the expenditure side, the DGO refers to payments relating to the allocation of funds to the National Electric System (SEN) for tariff reduction, in the amount of 566 million euros.
Contributing to the expenditure portion are also the 80.7 million euros with the extraordinary income support and the exceptional pension supplement, worth 23.7 million euros, until March.
This value of expenditure recorded up to March with these measures to mitigate the inflationary and geopolitical shock compares with the 226.8 million euros reported in February, and in this summary of the budget execution for the first two months of the year the portion attributable to the allocation is not taken into account. of funds to the National Electric System to reduce tariffs.
On the revenue side, the loss of tax revenue is mainly due to the reduction in ISP equivalent to the reduction in VAT to 13% (177.4 million euros), as well as the return of additional VAT revenue via ISP (66.9 million of euros).
