The state recorded a surplus of 722 million euros (ME) in public accounts through May, an improvement of 1,046 ME compared to the same period of 2022, the finance ministry announced on Friday.
In a statement ahead of the budget implementation summary of the Directorate-General for the Budget (DGO), the ministry led by Fernando Medina recalls that despite the year-on-year improvement, the budget balance fell from the surplus of 962 million registered to April.
According to Treasury, this evolution is due to a slowdown in revenues (adjusted) — growth of 7.7% to May, compared to 9.5% to April — and an acceleration of spending — from 4.8 % to May, compared to 3.6% in April.
The data released by the government this Friday is from the perspective of public accounting, which is different from the national accounting, released by the National Institute of Statistics (INE) and the one that counts for Brussels.
Source: DN
