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Madeira ends first quarter with positive balance

The Autonomous Region of Madeira ends the first quarter of the year with a consolidated global balance in public accounting, positive 21.7 million euros (in 2018 the balance amounted to 35.8 million euros).

According to the Budget Execution Bulletin for the month of March 2019, the actual revenue of the Regional Government increased by 6.2% until the end of March, compared to the same period of 2018, due to the upward trend evidenced both by the fiscal component (4.7%) and the non-tax component (9.8%).

This increase in tax revenue is associated with the positive performance of the direct and indirect components, reflecting, on the one hand, the effect of the current economic recovery and the recovery of employment, and, on the other hand, the effect of applying the calculation method introduced by Administrative Rule no. 77-A / 2014, of March 31, with an impact on revenue from VAT, which increased by 5.8% over 2018.

Expense increases

With regard to the actual expenditure of the Regional Government, it increased by 6.1% between 2018 and 2019.

The same Budget Execution Bulletin highlights that, as in the previous year, more than half of the expenditure (more precisely 58.7% of total expenditure) was channeled to the social area, where the health sector stands out with a budget execution of EUR 68.5 million and Education EUR 69.4 million, which together account for 91% of social expenditure.

Accumulated Public Administration liabilities at the end of March 2019 amounted to 271.2 million euros, of which 80.6% related to Regional Government bonds. The SFA, for its part, is responsible for 5.6% of the amount of the liability verified. As of March 31, compared to 01/01/2019, the Region decreased its liabilities by 62.6 million euros, with arrears registered a decrease of 1.8 million euros.

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