The public sector borrowing
requirement worsened to 16 billion euros in May from 11.7
billion last May, the economy ministry said Thursday.
The balance, the ministry explains, was affected by the increase
in social security spending due to the revaluation of pensions,
higher spending by central government and higher levies by
territorial governments.
There was a slight decrease in receipts, attributable to the
decrease in tax receipts through the F24 process, due to the
greater use of offsets for subsidised tax credits.
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