flexion compared with 15.5 in December 2013, due to the decrease in the IRES and IRAP for the operators of the banking sector and insurance
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The public sector borrowing requirement – according to data from the Ministry of Economy – recorded in December a surplus of 5.1 billion euros. “In comparison with the same month last year,” said the MEF, “there was a reduction of tax receipts, which reflects the lower payments by the parties operating financial assets, credit and insurance for which in December 2013 had been increased the IRES and IRAP. ” So the decline is due to the lowering their tax rates.
On an annual basis, the public sector borrowing requirement in 2014 is expected to grow 76.8 billion, an improvement of more than 3.5 billion compared to the result of 2013. The data shows that “in comparison with last year, the positive result is related to a limited spending dynamics in the presence of a decline in tax rec eipts due to, among other things, to the compensation of employers for the provision of the so-called bonus 80 Euros. “
The MEF also highlights an “increase in withdrawals from the treasury accounts, due also to the payment of the debts of the public administration, higher interest payments on the public debt to a different scheduling deadlines, as well as major contributions to the EU budget.”
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