Spending on social benefits rises by 5.2%

Government spending on social benefits grew by 5.2 percent last year, mostly because of a higher retirement pensions bill, the National Statistics Office said. Total expenditure on social security benefits during 2007 increased by Lm12.2 million...

Government spending on social benefits grew by 5.2 percent last year, mostly because of a higher retirement pensions bill, the National Statistics Office said.

Total expenditure on social security benefits during 2007 increased by Lm12.2 million (€28.5 million), or 5.2 per cent compared to 2006, and amounted to Lm245.7 million (€572.3 million). In 2007 the outlay on social security benefits made up 10.6 per cent of GDP at current market prices.

Spending on pensions increased by Lm9.0 million (€21.1 million), mostly due to an additional outlay of Lm7.6 million (€17.8 million) on the two-thirds pensions.

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