This year, the go­vern­ment plans to allo­cate another €43,000 mi­llion

Social Security Debt Rises By €90,000 To €106,000 Million With Sánchez

Pedro Sánchez, Spanish PM.
Pedro Sánchez, Spanish PM.

And this year the State will once again come to the rescue of the pen­sion system with an in­jec­tion of €43,000 mi­llion in order to be able to meet the pro­mised pay­ments. At the end of September, the Social Security cof­fers ac­cu­mu­lated a debt of €106 bi­llion eu­ros, al­most four times more than the €27 bi­llion it had at the end of 2017.

And that is before taking into account the last quarter, when pensioners are paid the bonus.

The government omits the existence of this deficit in order to continue to maintain that the system is healthy and that it even achieves surpluses, despite the fact that it must continue to allocate a significant part of the tax revenue to pay pensions.

This year, the government plans to allocate another €43,000 million euros to meet the payments it has made despite the sharp increase in social security contributions.

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