The Court of Accounts has forwarded to the Courts its examination of the General State Account for 2018 - the first presented by the Government of Pedro Sánchez - and claims to have found errors with erroneous valuations in at least 9,000 million euros. It groups them into 25 blocks.

In addition, it insists that the Social Security system presents for the second consecutive year a negative net worth (bankrupt if it were a private company) amounting to 33,260 million. It already figures in 115,022 million losses accumulated by the system since 2010 and advises against the government continuing to finance the system through debt (41,191 million) and insists that it must take sanitation measures.

The regulatory body uses the language of private auditing for the first time and reports that it has been forced to issue "qualifications" in the accounts presented by the Minister of Finance, María Jesús Montero. Includes several reproaches.

INFLATED RESULT

. "As a consequence of the obligations and rights attributed by default or excess in the budget for the year, the consolidated budget result is overvalued by 2,292.8 million euros." In the account presented by Cristóbal Montoro in 2017, the overvaluation was 500 million.

THERE IS MORE DETERIORATION. "The valuation adjustment for impairment of debts registered by the General State Administration (AGE) as recognized rights, which amounted to 24,205 million euros, was insufficient at 5,772.4 million.

NO INVENTORY

. "The AGE continues to lack complete inventories, pending the inclusion of a significant part of its property, plant and equipment." And among those who are inventoried, there is a valuation error as in the case of the highways that reversed the State.

UNDER VALUED CREDITS.

"The credits of the Fund for the Internationalization of the Company (FIEM) that are going to be forgiven after fulfilling the conditions established in debt conversion programs for development projects, are undervalued at 815.4 million euros."

DEBTS WITH SOCIAL SECURITY.

"The deterioration in value of debts due to deferred social contributions with long and short-term maturities is undervalued, overall, at 124.4 million euros (...) Likewise, the deterioration in value of debts with long maturities and in the short term derived from the social contributions of non-profit health institutions subject to a moratorium, it is undervalued at 195.7 million euros.

DUPLICATION

. «The heading Debtors, commercial debtors and other accounts receivable and the economic-patrimonial result are overvalued by 169 million euros due to the fact that the General Treasury of Social Security has doubled the accounting record of the accrual of accrued social contributions in the month of December".

THE EXTRA PAY

. “As in 2017, the expense corresponding to the part of the extraordinary pay accrued in December 2018 from public employees, as well as to the Passive Classes and system pensions, with a negative impact on net worth of 1,862.3 million euros and in profit for the year of 120.6 million ».

FISCAL ENGINEERING

. The Court ensures that in 2018 obligations of payment of contributory and non-contributory benefits amounting to 1,329.3 million were not computed, "and they must have been charged to the 2018 budget".

TELEPHONE

Telefónica's fiscal victory cost the State more than what was noted. "The provision in relation to a private company in the communications sector (702.4 million euros) does not include the interest accrued on said debt."

CHARGES AND PAYMENTS . "The collection and payment figure of the statement of cash flows of the Consolidated General State Account is overvalued by 349.2 million as a result of an error in the eliminations of consolidation."

In accordance with the criteria of The Trust Project

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  • Social Security
  • Maria Jesus Montero
  • Christopher Montoro

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