November revenues boost social dividend

November revenues boost social dividend

An increase in state revenues last month has led to a rise in the handout to households known as “social dividend” by an extra 40 million euros, to 215 million.

Figures presented by the State General Accounting Office on Friday showed that revenues grew by 285 million euros in November. In the first 11 months of the year the primary budget surplus amounted to 6.9 billion euros, against a target for 4.715 billion, an increase by 2.2 billion euros.

For the annual budget target to be achieved, the state will have to collect more than 6.6 billion euros by December 31. A large part of that (1.1 billion) will come from road tax, while 520 million euros will come from the fourth installment of the Single Property Tax (ENFIA) and the December tranche of the corporate income tax.

The net revenues of the state budget in the January-November period amounted to 48.429 billion euros, an increase by 380 million euros or 0.8 percent from the latest target for this year included in the 2020 budget report.

Budget expenditure amounted to 46.508 billion euros, down by 1.885 billion from the original target, with the Public Investments Program absorbing 881 million euros less than projected.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.