OE2020: Social Security balance falls 97,5% to 62,8 million in September

The Social Security balance fell 97,5% in September in year-on-year terms, but it was still positive at 62,8 million euros, reveals the budget execution published by the Directorate-General for Budget (DGO).

João Relvas / Lusa

The Social Security balance fell 97,5% in September in year-on-year terms, but it was still positive at 62,8 million euros, reveals the budget execution published this Tuesday by the Directorate-General for Budget (DGO). A year earlier, in September 2019, Social Security had a budget surplus of 2.494,4 million euros.

“The overall balance of the Social Security sub-sector reached, in September, a surplus of 62,8 million euros”, highlights in a statement the Ministry of Labor, Solidarity and Social Security, stressing that the result “represents a positive variation of 148,7, 85,9 million euros compared to August ”month when it registered a deficit of XNUMX million euros.

Minister Ana Mendes Godinho's office stresses that the increase in Social Security income and expenditure is mainly due to “the extraordinary measures adopted to face the socioeconomic effects of the covid-19 pandemic”.

Social Security revenue rose 0,7% in September compared to the same period of the year, to 21.974,5 million euros, while expenditure increased 13,3% to 21.911,7 million euros.

The change in revenue “results essentially from the 433,8 million euros increase in current transfers from Central Administration and the 53,2 million euros increase in foreign transfers (+ 6,7% than in the same period) ”, Indicates the ministry.

In turn, there was a 1,6% decrease in the contributions of workers and companies in year-on-year terms, which means 214,4 million euros less in this which is the largest source of Social Security revenue.

On the expenditure side, the increase seen was largely due to exceptional and temporary measures under the covid-19 combined with increases in expenditure on pensions and supplements and other social benefits.

Expenses with pensions and supplements rose 3,5% compared to September 2019, to 12.778,3 million euros.

The introduction of exceptional and temporary measures within the scope of the covid-19 represents an increase in expenditure of 1.580,2 million euros until September, according to the office of Ana Mendes Godinho.

The increase in expenditure on unemployment benefits was 23,1% compared to last year, reaching 1.102,9 million euros, while the expense with the sickness benefit and supplement grew 18,9% to 548,8 million euros .

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