Social security surplus increases sixfold to €4.774 billion

Madrid, September 11 (EFE) – The social security balance in July was positive at 4.774 billion euros, equivalent to 0.3% of GDP, an increase of 526% compared to the surplus of 762 million euros in the same period last year, thanks to Increase in social contribution income.

In the first seven months of this year, social contributions increased by 10.2% to 88.999 billion euros (an increase of 8.238 billion euros over the same period last year).

The Ministry of Inclusion, Social Protection and Immigration highlighted in a statement that this was the largest increase for this period in the past 16 years.

If converted into the income corresponding to the intergenerational equity mechanism (MEI) that took effect on January 1, social contributions increased by 8.4% year-on-year.

Total: System-wide non-financial income (confirmed rights) was 123.307 billion yuan, a year-on-year increase of 13.7%; non-financial expenses (confirmed obligations) were 118.533 billion yuan, a year-on-year increase of 10.1%.

In terms of expenditure, the largest item is pensions, which increased by 10.7% from January to July to 91.326 billion.Effie


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