MAY 2022 48 Government expenditure to exceed €100 billion for the first time in 2021 In 2021: • The nominal value of total public expenditure in Portugal increased by 3.0% compared to the previous year and exceeded €100 billion for the first time, reaching €101.7 billion, which corresponds to 48.1% of GDP (-1.2 p.p. compared to 2020); This growth reflects the increased budgetary effort associated with the economic policy measures to lessen the impact of the COVID-19 pandemic; • Public expenditure as a share of GDP in Portugal was 4.3 p.p. below the Euro Area average; • The economic classification items with the greatest relative weight in public expenditure were: » Social benefits: 40.7% of the total; » Compensation of employees: 24.5%; » Intermediate consumption: 12.0%; Share of government expenditure components (% of total), in Portugal, in 2021 Compensa�on of employees 24.5 Intermediate consump�on 12.0 Property income (Interest incl.) 5.1 Social benefits 40.7 Other transfers 12.4 Investment 5.3 2021 6.2 9.9 11.8 12.2 12.3 12.8 10.3 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 Ireland Germany Netherlands Italy Luxembourg Lithuania Austria Estonia Slovakia Latvia Portugal Spain Malta Belgium Greece France Slovenia Finland Cyprus % of GDP Euro Area average Share of government expenditure on compensation of employees in the Euro Area, in 2021
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