Business News 

€13.6 million in COVID-19 social expenses

30th July 2020

Social benefits expenditure amounted to €312.4 million in second quarter

A total of €13.6 million were spent on COVID-19 social benefits, pushing the Government’s contributory benefits expenditure to €457.1 million in the first half of this year.

In addition to the COVID-19 social expenses, higher spending was reported on retirement pensions (€21.1 million), widowhood (€3.4 million), the contributory bonus (€3.1 million) and ‘other benefits’ (€1.2 million), according to the National Statistics Office.

The Government spent less on invalidity pensions (€0.5 million) and benefits connected to industrial injuries and gratuities (€0.1 million).

The spend on social security benefits totalled €555.3 million in the first six months of 2020, up 8.5 per cent higher over the corresponding period in 2019.

There was a higher outlay in relation to both contributory and non-contributory benefits, the former accounting for €41.9 million, or 96.7 per cent, of the total rise in social outlay.

In the second quarter of the year, when the ill-effects of the pandemic started to bite, social benefits expenditure was €30.1 million higher than in the same period a year earlier, amounting to €312.4 million. Contributory spending rose by €29.7 million, stemming from the introduction of the COVID-19 benefits together with €11.9 million additional spending towards retirement.

A marginal increase of €0.4 million was reported under non-contributory expenditure.

In the meantime, Eurostat figures, also released by the NSO, show that, in June, when COVID-19 containment measures started being phased out in most member states, the euro area seasonally-adjusted unemployment rate was 7.8 per cent, up from 7.7 per cent in May. The EU unemployment rate was 7.1 per cent in June, up from 7 per cent in the previous month.

Eurostat estimates that 15.023 million men and women in the EU – including 12.685 million in the euro area - were unemployed in the month under review. This is an increase of 281,000 in the EU and 203,000 in the euro area when compared to May.


31st July 2020

The Paris MOU is made up of 27 maritime administrations, covering waters from North America to Europ...

29th July 2020

“The past quarter was the most challenging in Ryanair’s 35-year history,” the airline said.

29th July 2020

This brings the total number of days of leave in 2020 up to 27.

27th July 2020

In May 2020, 4,409 persons registered for work, while 4,270 registered in June 2020.

€13.6 million in COVID-19 social expenses