Hacienda advances that 2018 closed at 2.7% deficit

Hacienda advances that 2018 closed at 2.7% deficit


The deficit of the whole of the public administrations, without taking into account the local corporations, closed last year at 2.7% of the GDP, after falling by 28.5% until the month of November, as has been advanced by the Secretary of State of Budgets and Expenses, María José Gualda during her appearance before the Committee on Budgets of the Congress. The Executive manages to meet its deficit target for 2018, after last summer the Minister of Economy, Nadia Calviño, relaxed this goal from the 2.2% estimated by the Government of Mariano Rajoy for this year.

Specifically, Gualda has detailed that the deficit of all the administrations, that is, central administration, autonomous communities and Social Security funds, was reduced by 28.5% in the first eleven months of 2018, to 1.49 % of GDP. While the red figures of the central administration decreased by 29.6% in those months, to 1.03% of GDP, while Social Security also reduced its lag by 12.1%, to 0.57% of the GDP. On the other hand, the autonomous communities registered a surplus of 978 million, which represents 0.11% of GDP.

As explained by Gualda, in the absence of a month to have the full closure of the year "Treasury has quite certain forecasts" that the year 2018 ended with a public deficit of 2.7% of GDP.

In addition, the Secretary of State has cleared the criticism of the PP and Citizens deputies in relation to doubts about the optimism in the expected income in the accounts and has ensured that the General State Budgets of 2019 "not only are not some accounts tricks, but they are more reliable than those of previous years ». Specifically, Gualda argued that the expected increase in revenue in their accounts is 11.9%, while in the budgets that Mariano Rajoy's team prepared in 2018 was 1.6%.


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