The Government approves a loan of 6,981 million for Social Security

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The Minister council approved this Monday the granting of a loan from the State to the General Treasury of the Social Security for an amount of 6,981.6 million euros to provide adequate coverage for Social Security obligations, as reported by the Ministry of Inclusion, Social Security and Migration. This loan was established in the third additional provision of Law 22/2021, of the General State Budgets (PGE) by 2022 and does not accrue interest.

The portfolio that runs Jose Luis Escriva It is financed from the resources of the system, mainly contributions from workers and companies. In the months of June and November, the Social Security jointly pays the ordinary and extraordinary payroll of the pensions, a disbursement that exceeds 21,000 million euros. The granting of this loan guarantees the punctual payment of pensions and allows Social Security to plan in advance the availability of the necessary resources to face these extraordinary disbursements.

The Social Security highlights in its statement that its better financial situation has allowed the annual amount of the loan is less than 10,000 million euros for the first time since the loans to the system began after the financial crisis. In addition, it has only required one release, instead of the usual two, coinciding with the payment of the two extraordinary payments. In this sense, the 2021 loan, also consigned in the General Budget Law, amounted to 13.83 billion euros, as Social Security recalls in its statement.

Source: lainformacion.com

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