Spain - Public finance
The public sector deficit in 1996 was equivalent to 4.3% of GDP (compared to 3.8% in 1993 and 4.4% in 1992). Because of Spain's desire to enter the European Monetary Union, it had to meet stringent limits on its public debt and finances, including a 3% debt-to-GDP ratio. The government trimmed the budget by reducing the civil service payroll and limiting transfers to government-owned companies.
The US Central Intelligence Agency (CIA) estimates that in 2000 Spain's central government took in revenues of approximately $105 billion and had expenditures of $109 billion including capital expenditures of $12.8 billion. Overall, the government registered a deficit of approximately $4 billion. External debt totaled $90 billion.
The following table shows an itemized breakdown of government revenues and expenditures. The percentages were calculated from data reported by the International Monetary Fund. The dollar amounts (millions) are based on the CIA estimates provided above.
| REVENUE AND GRANTS | 100.0% | 105,000 |
| Tax revenue | 91.7% | 96,327 |
| Non-tax revenue | 6.3% | 6,565 |
| Capital revenue | 0.3% | 360 |
| Grants | 1.7% | 1,748 |
| EXPENDITURES | 100.0% | 109,000 |
| General public services | 2.5% | 2,776 |
| Defense | 3.2% | 3,478 |
| Public order and safety | 2.9% | 3,214 |
| Education | 3.5% | 3,847 |
| Health | 5.9% | 6,379 |
| Social security | 39.6% | 43,200 |
| Housing and community amenities | 0.4% | 417 |
| Recreation, cultural, and religious affairs | 0.5% | 573 |
| Economic affairs and services | 4.7% | 5,136 |
| Other expenditures | 24.4% | 26,548 |
| Interest payments | 12.3% | 13,432 |
Comment about this article, ask questions, or add new information about this topic: