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.