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Social Security Surplus Increases To 587 Million In June – O Jornal Económico

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Social Security Surplus Increases To 587 Million In June - O Jornal Económico

In June, Social Security registered a surplus of 587 million euros, up 234.9 million over the same period in 2020, the Ministry of Labor, Solidarity and Social Security said today.

The government said in a statement that “the overall balance of the social security subsector reached 587.1 million euros in June.”

“An increase in actual revenues of 1,337.1 million euros and an increase in effective spending of 1,102.2 million euros contributed to this result, mainly due to the emergency measures taken to address the socio-economic impact of the COVID-19 pandemic,” the ministry said. led by Ana Mendes Godinho.

Actual income from social security increased by 9.6% compared to the same period last year and amounted to 15,292.4 million euros.

The ministry explains that the increase in revenues “is due to an increase in current transfers from the Central Administration by 479.8 million euros, as well as an increase in contributions and contributions by 650.3 million euros (which is an increase of 7.7%)”, while how remittances from abroad registered an increase of 81 million euros (+ 12.3% over the same period last year).

Expenses increased by 8.1% year-on-year to € 14,705.3 million.

“This increase was mainly due to the emergency measures taken in the context of the COVID-19 pandemic, which represent a cost increase of € 1,304.1 million,” the office said.

The increase in expenses is also associated with unemployment benefits of 159 million euros, up 22%.

Pension expenses and supplements also increased by € 212.1 million (+ 2.8%) compared to June 2020. Also, subsidies and current transfers increased by 131.3 million euros. For vocational training and social action (+ 21.3%), as well as an increase in spending on social action programs and benefits by 7.1%, which is 64.7 million euros more than in June 2020.

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Economy

Bankers demand 6.25% pay rise at ‘breaking point’ and refuse further layoffs – ECO

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Bankers demand 6.25% pay rise at 'breaking point' and refuse further layoffs - ECO





Bankers demand 6.25% pay rise at ‘breaking point’ and refuse further layoffs – ECO































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Woman with fake belly caught smuggling hundreds of semiconductors (already worth 500 times more)

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Woman with fake belly caught smuggling hundreds of semiconductors (already worth 500 times more)

Sanctions and supply chain issues have created a parallel market in China, where these chips are sold for 500 times the market value.

Chinese customs officials caught a woman trying to smuggle semiconductors inside a prosthetic belly while pretending to be pregnant. This arrest sheds light on the reality of smuggling that has emerged in the world’s second-largest economy following the sanctions imposed by the United States of America.

According to bloomberg, a woman was caught by the authorities while trying to enter Zhuhai via Macau on November 25. According to customs authorities, the suspect had more than 202 processors and nine smartphones.

The woman came to the attention of the authorities when she was asked what month she was pregnant. “She said she was five or six months pregnant but she had a big belly that looked like she was in her third trimester,” Chinese officials explained.

The economic crisis caused by covid-19 and all the problems that have arisen in the supply chain have opened the door to the emergence of a black market in semiconductors in a country that needs these advanced chips to produce millions of products.

The situation has worsened recently as the Joe Biden administration tightened sanctions on China, focusing on developing advanced technologies, especially for military use.

According to the North American economic publication, the situation is so serious that the prices of these devices reach values ​​up to 500 times their market price, which creates ideal conditions for creating an entire parallel market with telecom operators and resellers.

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Economy

Reduced provider discount in December due to falling fuel prices

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Reduced provider discount in December due to falling fuel prices

The Ministry of Finance reported that in December there is a decrease in the ISP discount by 3.9 cents per liter of diesel fuel and 2.4 cents per liter of gasoline, taking into account falling prices.

The guardianship statement states that, as announced, “the mechanism applied in the ISP is equivalent to reducing the VAT rate from 23% to 13%, and the compensation mechanism through the ISP reduces additional VAT income as a result of the changes. in fuel prices remain in effect.

Thus, taking into account the evolution of diesel and gasoline prices, “these temporary measures result in a reduction in the ISP rebate of 3.9 cents per liter of diesel fuel and 2.4 cents per liter of gasoline. a discount of 17.1 cents per liter for diesel ISP and 15.4 cents per liter for gasoline ISP,” the same note reads.

On the other hand, “the carbon tax update will be suspended until the end of the year,” and “taking into account all the measures in place, the reduction in the tax burden is 27.3 cents per liter of diesel fuel and 24.7 cents per liter of gasoline. “.

The government’s rebate mechanism assumes that a decrease in the price of fuel results in an increase in the Tax on Petroleum Products (NPT) due to a drop in VAT revenues.

“Measures to mitigate the increase in fuel prices remain in place in the month of December, while the government continues to support all consumers by reducing fuel taxes,” the ministry reminded.

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The ISP’s rebate, equivalent to a 13 percent VAT rate cut, was due to run until September 4 but was later extended through the end of the year as part of the government’s family relief package due to price hikes.

Average fuel prices have returned this week to below pre-war levels in Ukraine on Feb. 24, with a 5.1% drop for petrol and 4.1% for diesel calculated by ERSE.

According to the “Weekly Report on the Surveillance of Selling Prices for the Public” published on Monday evening by the Entidade Regladora dos Serviços Energéticos (ERSE), “For the week of 28 to 4 December, the effective pre-tax price is 0.860 euro/l. [euros por litro] for straight petrol 95 and 1067 euro/l for direct diesel”, which after tax is 1660 euro/l and 1685 euro/l for straight petrol 95 and straight diesel, respectively.

These figures are comparable to average prices of 1,816 euros/l for 95 straight-through gasoline and 1,660 euros/l for direct diesel filled on February 24 when the Russians invaded Ukraine, according to the Directorate General of Energy and Geology (DGEG). ).

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