At issue is a decrease of 5,317.5 million euros compared to the same period last year.
This evolution was influenced by a decrease in revenue (7.4%) and an increase in expenses (15.1%).
According to the DGO, the variation in the balance is also justified by the transfer of the entire responsibilities of the Staff Pension Fund from Caixa Geral de Depósitos to Caixa Geral de Aposentações, which represented 3,018.3 million euros.
However, he noted that this operation assumed a “financial nature”, having no impact on the balance in national accounts.
With the adjustment for the effect inherent to the Pension Fund, the budget balance shows a drop of 2,299.1 million euros compared to the first quarter of 2023.
In turn, the primary balance fell by 2,220.8 million euros, standing at 1,141.5 million euros.
The increase in effective primary expenditure is explained by increases in transfers (23%), personnel expenses (7.8%) and the acquisition of goods and services (7.2%).
Excluding the transfer from the Caixa Geral de Depósitos Staff Pension Fund, the 4.3% growth in revenue “reflects the evolution of contributory revenue (9.6%) and tax and non-contributory revenue (10.2%) “.
The “aggregate behavior of remaining revenues (27.1%) and transfers (10.1%) contributed to the increase in tax and non-contributory revenue”.
In a statement, the Ministry of Finance, supervised by Joaquim Miranda Sarmento, highlighted that the Central Administration’s debts to Suppliers increased by around 300 million euros.
“It should be noted that, in January 2024, there was a surplus of 1,177 million euros, which turned into a deficit of 259 million euros in March. This strong degradation of the budget balance, between January and March 2024, results, to a large extent, from decisions and commitments made this year by the previous Government and, in many cases, after the March 10 elections”he finished.
