Monthly Review for Central Government Finances on July 2023

At the end of July, the cumulative income and expense balance of the state budget economy was -6.5 billion euros, while the income and expense balance at the same time last year was -1.4 billion euros. Compared to the same time last year, revenues increased by 6.7 billion euros (19 %), and expenses by 11.8 billion (32 %). The increase in income is explained by the increase in tax revenues. The expenses increased in expenses of the transfer economy (10.0 bn euros), financial expenses (1.1 bn euros), and operating expenses (0.6 bn euros). The establishment of the wellbeing services county administrations at the beginning of the year affects the growth of tax revenues and the expenses of the transfer economy.