2022 Edition 48 MONTHLY STATISTICAL BULLETIN More information is available at: Excessive deficit procedure – 1st notification 2022 25 March 2022 Excessive deficit procedure – 1st Notification 2022 In 2021: • The net borrowing of the General Government (GG) amounted to €5,977.1 million, corresponding to 2.8% of GDP (5.8% in 2020); • The gross debt of GG will have decreased to 127.4% of GDP (135.2% the previous year); • Thebalance inpublic accounts showeda significant improvement, resulting from a growth in revenue (10.0%) greater than the growth in expenditure (3.0%); The increase in revenue was mainly due to the positive development of tax and contributory revenue, reflecting the partial recovery of economic activity and the labour market after the initial pandemic shock in 2020; • The direct budgetary impact of public policy measures in the context of the pandemic COVID-19 will have amounted to around 2.8% of GDP (2.4% in 2020). Unit: EUR (million) Balance transfer in Public Accounts Balance to National Accounts Balance Main adjustments 2020 2021 Balance in Public Accounting -11,815.9 - 8,676.0 Accrual adjustment and sector delimitation in National Accounts 2,716.9 4,028.9 Difference between paid and due interest 1,070.8 1,013.4 Other receivables: -734,0 301,0 Temporal adjustment to taxs and contributions -561,1 801,0 Other -172,9 -500,1 Other payables: 20,3 -272,0 Expenditure already incurred but not yet paid -1,6 49,2 Other 21,9 -321,2 Other adjustments: -2,942.1 - 2,372.3 Capital injections and debt assumptions -2,134.9 - 3,685.0 Other -807,2 1,312,7 Balance in National Accounts -11,684.2 - 5,977.1
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