The Government approved last March the granting of a loan from the State to the General Treasury of the Social Security amounting to 13,830 million euros to pay the pensions. In June the loan was of 7,500 million € and in November another one of 3,600 has been approved. In 2011 Spain had a reserve of 66,815 million €. Now on it is of 1,368...
In the months of July and December, Social Security jointly pays the ordinary and extraordinary payroll of pensions, a disbursement that currently reaches 19,000 million euros and that can generate liquidity tensions to the system. In fact, the Government has already announced that, in addition to the loan, to pay the extra Christmas will get 3.5 billion of the pension piggy bank.
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