The Andalusian Government has 45.47 million euros in expected income in terms of interest on bank accounts for this year, a level that has been exceeded at this time of the budget year because until July it has recognized rights worth 48.18 million, 5.9% more than the initial calculation.
This figure of 48 million represents a considerable growth compared to the income that the current Regional Executive calculated in its first accounts, which it prepared for the 2019 financial year, when it forecast income of 6.03 million for this financial performance. This means that it will multiply by eight in 2024 the income it forecast five years ago.
The Andalusian Government defines this item as “interest paid by credit institutions for the remuneration of bank accounts opened by the management bodies of the TGeneral Treasury of the Junta de Andalucía.
According to information released by the General Treasury of the Junta de Andalucía, the balance of the Autonomous Administration’s account is 2,657.08 million euros, as of June of this year. The income of 48.18 million would represent 1.8% of this deposit of 2,657 million, which is not a stable figure since it has reached 3,436.9 million.
The June deposit increased by 789 million compared to May, or 1,867.4 million, after registering 4,529.06 million collections and 3,739.40 million payments during the sixth month of the year, according to data consulted by Europe Press.
The quantitative leap between 2019 and 2024 has already been experienced by regional accounting between the accounts of 2018, the last of a socialist government, and those of 2019, the first of the government chaired by Juanma Moreno. In 2018, the expected interest income on bank accounts amounted to 1.46 million, which rose to 6.03 million in 2019, a fourfold increase.
This financial performance falls outside the parameters within which an average citizen operates, a circumstance that the monetary authorities themselves recognize.
The Bank of Spain states in its banking customer portal that “the interest rate on an account is free and will depend on the commercial policy of the entity and the evolution of rates, which is why it is currently usually very low or zero.”
Late payment interest for overdue debts
The Andalusian Government also expects more resources in the income section, including interest on late payments, for which it expects to receive 9.55 million euros this year, which is divided into tax (8 million) and non-tax income.
The Council describes late payment interest as “the additional amounts necessary for the payment of late debts”, which count as “the period between the expiry of the payment period in the voluntary period and that of actual recovery”, with the nuance that “they should not be applied in the concept of principal of the debt.”
Other interest income calculated by the Andalusian Government comes from advances on loans granted (3.7 million), securities and transferable assets (1.4 million), in addition to 23.2 million from surcharges.
Andalusian credit and deposit map
The Bank of Spain draws up the Andalusian map of credits and deposits in its August statistical bulletin, which provides data from March of this year. In the first case, 151,589 million loans were granted in Andalusia, a figure that represents 12.67% of the national total, or 1.19 billion, and is five points less than the weight of the Andalusian population compared to that of Spain. The Andalusian administrations, with 7,052 million, represent 4.6% of these 151,589 million credits.
Andalusia is positioned as the third Community in terms of credit volume after the Community of Madrid, which has 353.834 million, and Catalonia, with 201.230 million. In the case of deposits in financial institutions, 163.179 million are registered in Andalusia, representing 10.56% of the national total. The 10.456 million from public administrations represent 6.4% of the total in the hands of Andalusians.
