MARCH 2022 47 MONTHLY STATISTICAL BULLETIN More information is available at: Main aggregates of General Government – 2021 25 March 2022 Main aggregates of General Government – 2021 In 2021: • The General Government (GG) sector presented a net borrowing of €5,977 million, corresponding to 2.8% of GDP (5.8% in 2020 and 0.1% in 2019); This net borrowing originated mainly from the Central Government sub-sector and, with less significance, from Regional and Local Government, since the Social Security Funds sub-sector registered a positive balance; • The Central Government balance stood at €-7.8 billion, improving by €5.8 billion compared to 2020; • On the contrary, the deficit of Regional and Local Governments increased to €563 million in 2021, more than double that recorded in 2020; • The balance of Social Security Funds remained positive, improving by more than €200 million compared to the previous year; • The direct impact of the exceptional support measures in the context of the COVID-19 pandemic amounted to around €7 billion, corresponding to 6.9% of total public expenditure. In 2020, this impact had been 4.3 billion (4.4% of total expenditure); • Among the public expenditures items linked to the pandemic, the following stood out: » Subsidies to firms (3.1% of total expenditure in 2021); » Intermediate consumption (0.9%); » Social benefits to families (0.6%); » Compensation of employees (0.4%), mainly in the health sector. In addition, the following were recorded as capital transfers: » An estimate of the losses associated with the guarantees granted by the Mutual Guarantee Fund (FCGM) within the COVID-19 financial support to firms, classified in the GG institutional sector; » The direct support for TAP Air Portugal (0.7%); The charges for the simplified layoff, included in the subsidies paid to firms, amounted to 0.4% of expenditure. General Government balances Transaction code Transaction lable 2020 2021 B.9 Net lending ( +) / Net borrowing ( -) (National Accounts Balance) -11,684 -5,977 Current balance -3,626 -386 B.9-D.41 Primary balance -5,893 -808 Unit: 106 EUR
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