The August fiscal execution report published by the Budget Directorate (Dipres) showed that fiscal revenues continue on a double-digit growth path: in August they rose 13.8%. This increase was driven by taxation of large private mining, which rose 84.4% in real annual terms, accumulating growth of 45.9% for the year. According to Dipres, "this result continued to be favored by high copper prices and the higher revenue associated with the mining royalty, so it remained the main driver of tax collection during 2026." Meanwhile, Codelco transfers increased 30.6% in real annual terms. Non-tax revenues grew 51.7% in real annual terms, accumulating an increase of 28.5% through August. The result was explained mainly by property income, due to a strong expansion associated with the payment of ENAP dividends of US$300 million. Meanwhile, taxation of other taxpayers grew 1.7% in real annual terms and accumulated an increase of 0.2% through August. In the month, the growth of VAT and monthly income tax payments stood out, partially offset by the decline in specific taxes, mainly on fuels. Thus, fiscal revenues accumulate growth of 7.7% through August. Meanwhile, budget expenditure showed a real expansion of 3.3% in the month and accumulates 1.0% through August. This result responded mainly to higher current expenditure, driven by the increase in pension benefits and personnel spending, along with the low base of comparison for subsidies and donations. In detail, current expenditure showed a real annual expansion of 4.2% in August, driven by the growth of pension benefits and personnel spending. Meanwhile, capital expenditure (budgetary spending on non-financial assets) moderated its decline compared to the previous month, falling 2.9% in real annual terms in the month. In this way, expenditure accumulates an expansion of 1% through August. Thus, central government budgetary expenditure reached an execution rate of 64.5% through August of the approved Budget Law. With this, the effective fiscal balance recorded a deficit of 0.05% of GDP in the month and accumulates a deficit of 0.7% of GDP through August. NEWSLETTER Pulso PM Monday to Friday, 12:30 PM The most relevant news on markets, companies and business: timely information, context and content for making better decisions. By subscribing you are accepting La Tercera's Terms and Conditions and Privacy Policies.