The Ministry of Finance publishes that the consolidated deficit of the Central Administration, the Autonomous Communities and Social Security stands at €33.668 billion until June, equivalent to 1.89% of GDP, compared to 1.88% in 2025.
The Ministry of Finance released budget execution data for the Public Administrations corresponding to June and July 2026 this Friday, as reported in the official publication of La Moncloa. The main figure is that the consolidated deficit of the Central Administration, the Autonomous Communities and the Social Security Funds stands at €33.668 billion until June, representing 1.89% of GDP, a ratio almost identical to the 1.88% recorded in the same period of 2025.
This figure excludes Local Entities, whose balance is not included in this consolidation. In terms of national accounting, the State recorded a deficit of 2.50% of GDP at the end of July, with a financing need of €44.539 billion. If interest is discounted, the primary balance shows a deficit of €21.586 billion, equivalent to 1.21% of GDP.
The State's non-financial resources reached €187.959 billion until July, an 11% increase compared to the same period in 2025. Taxes total €151.354 billion, accounting for 80.5% of total resources, with a growth of 10%, meaning €13.736 billion more than a year earlier.
Within tax revenues, taxes on production and imports increased by 4.3%, reaching €83.731 billion. The VAT contributes €64.918 billion, with a rise of 5.9% compared to the same period in 2025. In gross terms, revenues from this tax amount to €80.686 billion, a 6% increase.
The evolution of energy taxes incorporates the effect of extraordinary tax measures approved in 2026. Since July 1, the ordinary VAT rates on energy products have been reinstated. In the Special Tax on Hydrocarbons, the temporary reduction in effect until June has been replaced by a gradual reduction in the tax rate during July, August and September.
Other taxes on production and imports total €18.813 billion, a decrease of 0.9%. Among the main figures, the Special Tax on Hydrocarbons decreases by 5.9%, to €6.836 billion; the Special Tax on Electricity is reduced by 25.4%, to €683 million; and the Tax on the value of electricity production falls by 15.3%, to €825 million. Conversely, the Insurance Premium Tax increases by 7.3%, to €1.763 billion, and the Financial Transactions Tax rises by 38.1%, to €272 million.
Meanwhile, current taxes on income and wealth reach €67.482 billion, a 17.9% increase compared to the first seven months of 2025. Of this amount, €46.652 billion corresponds to personal income tax (IRPF), with a 20.4% increase; €16.561 billion to corporate tax, with a 13.8% increase; and €3.620 billion to the Non-Residents Income Tax, with a 17.9% increase.
The Tax on the margin of interest and commissions of certain financial entities records €534 million in terms of national accounting. Capital taxes amount to €141 million, compared to €105 million in 2025, from self-assessments of the Inheritance and Donations Tax made by non-residents. Social contributions reach €3.803 billion.
Transfers received from other Public Administrations total €12.713 billion, a decrease of 9.7%. Property income grows by 8.5%, reaching €5.353 billion. Among these, dividends and other income rise from €498 million in 2025 to €854 million in 2026, of which €234 million corresponds to the dividend from the Bank of Spain. Interest income increases by 1.4%, to €4.499 billion.
Income from the sale of goods and services reaches €1.232 billion, a 5.8% increase. The remaining resources amount to €13.504 billion, with a 78.4% increase, mainly due to the rise in investment aid, which increases from €4.837 billion in 2025 to €10.441 billion in 2026.
In the expenditure chapter, the State's non-financial expenditures stand at €232.498 billion, an 11.5% increase compared to July 2025. The largest item is transfers between Public Administrations, which represent 62.3% of total expenditure, with €144.893 billion and an increase of 9.0%. The Central Administration Agencies have received €11.625 billion, a 25% increase.
The execution data for July includes the final settlement of 2024 of the financing system for the Autonomous Communities of the common regime and Local Entities, with a net balance in favour of both administrations of €14.335 billion, compared to €13.627 billion in the 2023 settlement. The update of the advance payments to the Autonomous Communities for January-June has also been carried out, impacting the State's deficit by €11.139 billion, compared to €9.952 billion in 2025.
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