Press release dated 30/07/2010
The Public Sector surplus in the Basque Country stood at 805 million euros in 2008
The Central Spanish public sector in the Basque Country posted a surplus of 1,563 million euros, while the Basque public sector registered a deficit of 758 million euros.
The Public Sector in the the Basque Country (Basque Administration and Central Spanish Public Administration and regionalised Social Security Institute) posted a surplus of 805 million euros in 2008, which accounted for 1.2% of GDP, according to Eustat data. However, compared to the previous year, it was down 75% in absolute terms and 3.6 percentage points in terms of GDP.
The negative performance was greater in Spain as a whole, where the public sector went from a surplus of 1.9% in terms of GDP in 2007 to a deficit of 4.1% in 2008. In the European Union-27, the negative balance also worsened, going from a 0.8% deficit in 2007 to 2.3% of the GDP in 2008.
The reduction in the funding capacities of the Public Authorities in the Basque Country was due to the negative evolution of non-financial resources, which fell by 0.4% compared to 2007, together with a 10.5% growth in non-financial jobs.
The institutional analysis shows that only the regionalised Central Spanish Public Sector improved its surplus balance with respect to 2007, rising from 1,561 million to 1,685 million in 2008. On the other hand, the regionalised Social Security posted a deficit in 122 million euros in 2008 companied to the surplus of 186 million in 2007.
As far as the Basque Public Sector was concerned, all the institutions posted a poorer balance: the municipal and provincial authorities of Bizkaia registered a surplus overall of 164 million euros, in 2008, 71% down on 2007. The other authorities went from a surplus in 2007 to a deficit in 2008. Thus, Álava posted a deficit of 122 million euros, the deficit was 15 million in Gipuzkoa and the negative balance for the Basque Government as a whole was 785 million euros.
The stake of the public sector internal demand in the total internal demand increased by 18.1% compared to 2007.
The Public Sector final consumption expenditure stood at 21.1% of the final consumption expenditure of the Basque Country in 2008, compared to 19.8% in 2007.
The weight of the Public Sector in the Gross Fixed Capital Formation of the economy overall of the Basque Country also increased by 8 tenths from 9.6% to 10.4% in 2008. By institutions, 94.5% of the investments were by the Basque Administration and the remaining 5.5% by the regionalised Central Spanish Public Sector overall.
For further information:
Basque Statistics Office
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tlf:+34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: eustat@eustat.es
Contact: Clara Ramos Hernández
Tel:+34-945-01 75 97 Fax:+34-945-01 75 01
Further press releases on Public sector accounts
Databank on Public sector accounts