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Total government revenue this quarter was €3.7 billion higher than Q2 2023. With taxes and social contributions dominating revenue, the growth of €3.6 billion across these headings is the main factor behind the overall increase in the total.
Direct taxes (corporation and income tax) increased by almost €3.0 billion; social contributions saw growth of €0.4 billion; indirect taxes (including VAT) were €0.3 billion higher than Q2 2023.
Indirect taxes | Direct taxes | Capital taxes | Social contributions | Investment income | Sales of goods and services | Current transfers | Capital transfers | |
Q1 2022 | 8.5 | 9.6 | 0.1 | 4.8 | 0.0 | 1.1 | 0.2 | 0.1 |
Q2 2022 | 6.4 | 14.5 | 0.1 | 4.9 | 0.2 | 1.1 | 0.3 | 0.2 |
Q3 2022 | 9.4 | 12.6 | 0.1 | 4.9 | 0.3 | 1.1 | 0.3 | 0.2 |
Q4 2022 | 7.3 | 20.0 | 0.4 | 5.4 | 0.2 | 1.2 | 0.3 | 0.2 |
Q1 2023 | 8.9 | 11.5 | 0.1 | 5.2 | 0.3 | 1.2 | 0.3 | 0.2 |
Q2 2023 | 6.8 | 15.4 | 0.1 | 5.2 | 0.4 | 1.2 | 0.3 | 0.2 |
Q3 2023 | 9.5 | 11.8 | 0.1 | 5.2 | 0.5 | 1.2 | 0.3 | 0.2 |
Q4 2023 | 8.0 | 20.9 | 0.4 | 5.6 | 0.7 | 1.2 | 0.3 | 0.2 |
Q1 2024 | 10.0 | 11.4 | 0.1 | 5.6 | 0.4 | 1.1 | 0.3 | 0.2 |
Q2 2024 | 7.1 | 18.4 | 0.1 | 5.6 | 0.6 | 1.1 | 0.2 | 0.2 |
At €29.7 billion, total expenditure in Q2 2024 was €1.5 billion more than last year (€28.1 billion).
Pay (compensation of employees) increased by €0.8 billion while there was an additional €0.4 billion on gross fixed capital formation. Social benefits and intermediate consumption also increased by €0.2 billion each.
Compensation of employees | Intermediate consumption | Interest | Social benefits | Subsidies | Gross investment in non-financial assets | Current transfers | Capital transfers | |
Q1 2022 | 6.9 | 4.0 | 0.8 | 8.1 | 1.3 | 2.0 | 1.1 | 0.5 |
Q2 2022 | 7.1 | 4.2 | 0.8 | 8.9 | 0.7 | 2.5 | 1.4 | 0.4 |
Q3 2022 | 7.1 | 4.3 | 0.8 | 9.7 | 0.6 | 2.8 | 1.0 | 0.4 |
Q4 2022 | 7.7 | 4.8 | 0.9 | 10.4 | 0.8 | 3.3 | 1.4 | 0.5 |
Q1 2023 | 7.7 | 4.3 | 0.9 | 8.7 | 0.6 | 2.3 | 2.0 | 0.6 |
Q2 2023 | 7.8 | 4.7 | 0.9 | 9.8 | 0.6 | 2.7 | 1.0 | 0.6 |
Q3 2023 | 7.9 | 4.6 | 0.8 | 10.3 | 0.6 | 3.2 | 1.0 | 0.6 |
Q4 2023 | 8.1 | 5.6 | 0.8 | 10.8 | 0.7 | 3.8 | 1.3 | 0.6 |
Q1 2024 | 8.3 | 4.5 | 0.8 | 9.6 | 0.6 | 2.5 | 1.7 | 0.6 |
Q2 2024 | 8.6 | 4.9 | 0.8 | 10.0 | 0.6 | 3.1 | 1.0 | 0.7 |
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