Social Security recorded a surplus of 3,190.8 million euros up to June, down from 3,249 million euros in the same period a year earlier, revealed the budget execution summary released today.
According to the Directorate-General for the Budget (DGO), actual Social Security revenue rose from 17.771,5 million to 19.606,5 million in the first six months of the year, compared to the same period last year.
However, actual expenditure also rose from 14,522.4 million euros by June 2023 to 16,415.7 million in the first half of this year.
While revenue rose by 10.3% compared to last year, expenditure rose by 13%, according to the DGO.
In the June budget execution summary, the DGO also highlights, for the evolution of transfers, “the costs of pensions and other allowances, in the general Social Security scheme and in the Caixa Geral de Aposentações convergent social protection scheme, due to the update in the value of pensions in both schemes and, in the case of Social Security, also reflecting the increase in the number of pensioners.”
