Deficit and debt of the General Government

In national accounting, the concept of budget deficit is used when the State budget is in deficit: State revenues are lower than expenditures, and therefore the budgetary balance is negative (reimbursements of maturing loans are included in expenditures). Likewise, public administrations – which are greater than the State since these include territorial administrations and social security administrations – experience a public deficit when public expenditures on a year exceed public revenues; the balance of public finances is hence negative. Concretely, in the majority of countries public budgets (measured annually) are very often in deficit; in the opposite case, there is a budget surplus. A distinction is made between the primary deficit, which corresponds to the deficit calculated without taking into account the debt service (i.e. the interests paid on the debt and the part of loans to be reimbursed during the year) of the final deficit.

The Maastricht Treaty defines the public sector as the entity comprising the central administration (State), local authorities (municipalities) as well as social security bodies (art. 104 of the EC Treaty).

Notification of 31.03.2021


General government consolidated gross debt level at nominal value oustanding at end of year (in millions of EUR):

 

2017

2018

2019

2020

2021

Status

final final final half-finalized estimated

Gross debt

12.694 12.583 13.978 15.941 18.322

In % of GDP

22,34% 20,95% 22,01% 24,85% 26,86%

GDP

56.814 60.053 63.516 64.143 68.207



General government consolidated gross debt level at nominal value oustanding at end of year (by category / in millions of EUR) :

 

Term

ESA Codes

2017

2018

2019

2020

2021

Currency and deposits

 

AF.2

291 301 311 316 322

Securities others than shares

 

AF.3

8.248 8.248 9.747 11.747 14.247
 

short term

AF.31

0,0 0,0 0,0 0,0 0,0
 

long term

AF.32

8.248 8.248 9.747 11.747 14.247

Loans

 

AF.4

4.156 4.034 3.920 3.878 3.753

 

short term loans

AF.41

217 602 109 101 101

 

long term loans

AF.42

3.938 3.432 3.810 3.776 3.651

TOTAL

 

 

12.694

12.583

13.978

15.941

18.322

 

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