The pandemic costs the state 3.058 million euros until September – Jornal Económico


The covid-19 pandemic cost the state 3,082.3 million euros through September, due to a loss of revenue of 831.5 million and an increase in spending of 2,226.8 million, DGO said today.

“Until September, the implementation of the measures adopted in the context of combating and preventing covid-19, as well as those aimed at restoring normality, led to a reduction in revenues of 831.5 million euros and an increase expenditure of € 2,226.8 million ”, indicates the Directorate-General for the Budget in the summary of budget execution.

The impact of the covid-19 measures up to September exceeds the 2,521.7 million euros recorded up to August.

As regards the execution up to September, on the revenue side, DGO highlights the loss of contributions due to the exemption from the payment of the Single Social Tax (TSU) in 470 million euros in simplified layoffs, recovery support progressive and financial incentive to normalize company activity.

The deferred payment of taxes, payable from the second half of the year, for a period of up to six months resulted in a loss of revenues of 110.9 million euros for VAT and 36.1 million euros for withholding tax on IRS and IRC.

On the expense side, the ‘redundancy fund’ was the measure with the greatest impact, with a cost of 817.7 million euros, followed by healthcare expenses (331.8 million euros), or Personal Protective Equipment (PPE) and medicines.

The expenses for extraordinary support for the reduction of the economic activity of self-employed workers amounted to 183.6 million euros and the extraordinary incentive to normalize business activity, according to DGO, was 169.5 million. EUR.

With costs of less than 100 million euros are the strengthening of human resources (hiring, overtime and other allowances), with a related expenditure of 88.2 million euros up to September, the exceptional support for the family (82.9 million euros ), ventilators and other equipment for the National Health Service (67.2 million euros), among others.

Until September, the victims of prophylactic isolation cost 36.6 million euros, while the extension of the social unemployment benefit was 41.2 million and the Adapt program 27.3 million.

Spending on financial activities is still € 50.3 million with the tourism support line for micro-enterprises.

DGO notes that “in the absence of expenses associated with measures under covid-19, the actual expenditure of Public Administrations would have grown by 1.7% compared to the same period last year (instead of 5.2%) and income, actual income would have decreased by 5.6% (instead of 6.9%) ”.

The DGO data does not include measures to support the financing of the economy that have no impact on budget accounting, “as in the case of those which consist in the provision of guarantees by the State in the lines of support to the economy, as well as other measures that, while deriving from legislative provisions, refer to the private sector, including the moratorium granted by the banking sector, moratoriums on rents, and the impossibility for companies that provide essential services (“utilities”) to suspend services for breach of payments “.

According to the budget execution, the public accounts deficit worsened by € 7,767 million until September compared to the same period last year, to € 5,179 million.

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