The Spanish deficit is four times a year
| Date: September 30, 2009 | Source: Europa Press |
| Category: Economy | |
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Loading ... The State recorded a deficit of 60,340 million euros to August in terms of National Accounts, 5.73% of GDP, compared with a deficit of 14.574 million euros in the same period last year, according to data provided by the Secretary of State of Finance, Carlos Ocaña.
This result was due to some payments stood at 120.756 million euros, 22.5%, while revenues totaled 60.416 million euros, 28.1% less. Thus, the deficit has increased more than four in one year.
In cash terms, we computed the income and expenses were actually made during the period, the state reached a deficit of 62,452,000 euros, compared with a deficit of 15,037,000 registered between January and August 2008.
The deficit obtained must be analyzed taking into account the drop in revenues, the impact of the measures announced by the Government, amounting to more than 27,000 million for tax cuts, rebates and greater advances deferrals, and other government initiatives to promote employment and investment.
