Social Security recorded a surplus of 1,454.8 million euros up to March, a figure that reflects a 10.8% drop compared to the same month last year, according to budget execution data released today.
According to information released by the Directorate-General for the Budget (DGO), actual Social Security revenue rose by 11.2% year-on-year until March, to 9,645.2 million euros.
Actual expenditure totaled 8,190.4 million euros, an increase of 16.3% on the figure recorded in March 2023.
On the revenue side, contributions and levies (the deductions made by workers and employers) rose by 10.2%, while current transfers from central government (which include, among other things, transfers from the state budget) rose by 13.5%.
On the expenditure side, the biggest year-on-year increases were seen in the solidarity supplement for the elderly and the support allowance for informal carers (up 85.0% and 51.1% respectively).
Expenditure on pensions, on the other hand, rose by 16.2% to 4,905.9 million euros.
