Gross national income increased 3.8% in the second quarter to 291,998 million

Gross national income stood at 291,998 million euros in the second quarter, 3.8% more than in the same period of 2016, while gross domestic disposable income rose by 3.6% year-on-year to 289,402 euros million euros, according to the non-financial quarterly accounts of institutional sectors published Monday by the National Statistics Institute (INE).

This increase in income, explained Statistics, is due to the greater operating surplus of resident productive units, which grew by 4.8%, to 123.728 million euros, as well as the higher remuneration received by employees, which increased by 2.9% to 140,308 million euros.

At the same time, the amount of taxes on production and imports, net of subsidies, rose 3.5% year-on-year in the second quarter to 30,889 million euros.

The balance of ownership (interests, dividends, etc.) with the rest of the world stood at -2,927 million euros, in contrast to the negative balance of 3,035 million euros in the second quarter of 2016.

Also, in order to obtain the gross national disposable income, it should be noted that in the second quarter the negative balance of current transfers with the rest of the world was reduced (taxes on income and wealth, contributions and social benefits and other current transfers) up to -2,596 million euros, compared to -1,890 million euros in the second quarter of 2016.

If seasonal and calendar effects are eliminated, gross national income rose by 0.3% in the second quarter compared to the first quarter, while gross national disposable income remained unchanged.

FUNDING CAPACITY OF 5,867 MILLION

INE statistics also reveal that in the second quarter the Spanish economy recorded a financing capacity of 5,867 million euros, 2% of GDP, compared to the financing capacity of 6,672 million euros in the same period of 2016.

With the elimination of seasonal and calendar effects, the economy's lending capacity reached 1.7% of GDP, compared to 2.3% in the previous quarter.